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News release

Bedminster

Jones Lang LaSalle Represents Owner of 500 Hills Drive in 40,793 SF Lease Relocating Peapack-Gladstone Bank Headquarters to Bedminster

Relocation lease continues strong leasing activity at The Offices at Bedminster


BEDMINSTER, NJ, December 10, 2009 — Jones Lang LaSalle announced it has arranged a 40,793-square-foot office lease at 500 Hills Drive with Peapack-Gladstone Bank, which is relocating its company headquarters from 158 Route 206 North in Gladstone, N.J.
 
The Jones Lang LaSalle leasing team of Vice President Jodie Matthews, Executive Vice President Dennis McConnell and Associate Peter Politi represented the landlord, MIREF, in the transaction.
 
Brokers Jim Sousa and John Udell of Weichert Commercial Brokerage represented Peapack-Gladstone Bank, a full-service bank that provides personal and business banking along with consumer and commercial lending and trust and investment services.
 
“This outstanding Class A office building has been one of the most desired locations for tenants in the prestigious Interstate 78/Route 287 corridor, far outpacing leasing activity in the region,’ stated Matthews. “Amenities such as underground parking, advanced communications technology and state-of-the-art mechanical, electrical and life safety systems make 500 Hills Drive an ideal headquarters location for world-class tenants such as Peapack-Gladstone Bank.”
 
500 Hills Drive is part of The Offices at Bedminster, a premier business location that features two stately, three-story buildings totaling 190,000 square feet in Bedminster, N.J. Tenants benefit from close proximity to Interstates 78 and 287 and Routes 202 and 206. Finished in hand-laid Endicott brick that reflects the Bedminster area’s historic context, The Offices at Bedminster blends classic style with modern substance, as each building features an elegant, three-story atrium richly accented by natural hardwoods, granite and polished brass. The incorporation of a saw tooth design into the spacious floor plates creates multiple corner offices per floor.
 
“Having outgrown our administrative offices in Gladstone, we were searching for a headquarters environment that would accommodate our current and future space needs in a location that would allow us to stay true to our area roots and maintain our regional presence,” stated Frank A. Kissel, chairman and chief executive officer of Peapack-Gladstone Bank. “Relocating to 500 Hills Drive offers all of the space, amenities and location advantages that are essential to our operations.”
 
In addition to a variety of on-site and nearby amenities, The Offices at Bedminster offers a scenic courtyard and decorative pond to complement the lush landscaping and beautiful views of the surrounding Somerset Hills. The immediate area offers lodging, restaurants and retail amenities within the adjacent Village at Bedminster shopping center, which features convenient banking - including a branch office of Peapack-Gladstone Bank - casual dining, grocery and personal service options. Tenants’ needs are addressed by the on-site property management team of Kwartler Associates Inc., ensuring responsive, professional service at all times.
 
About Peapack-Gladstone Bank
Established in 1921, Peapack-Gladstone Bank is a $1.49 billion asset, wholly owned community bank that offers a full range of quality banking products and services to businesses and residents of Essex, Somerset, Hunterdon, Middlesex, Morris and Union counties in New Jersey, through 24 full-service branches, an online branch and a Trust division, PGB Trust & Investments.  In addition to its personal and business banking product line, Peapack-Gladstone Bank offers consumer and commercial lending products and services like auto and home equity loans and lines of credit, residential mortgages, commercial mortgages, term loans, lines of credit and construction loans.  For additional information about Peapack-Gladstone Bank or to open an account online, visit www.pgbank.com or call 908-234-0700.  Member FDIC. Equal Housing Lender.
 
Contact:  Denise M. Pace-Sanders, VP Marketing Director, dpace@pgbank.com, 908-470-3322

Peapack-Gladstone Bank, 158 Route 206 North, PO Box 178, Gladstone, NJ 07934