June 17, 2009 - Onyx Equities, LLC has executed a long term 12,282 square foot lease agreement at 301 Route 17 N., located within the Meadows Office Complex in Rutherford, NJ. The tenant is relocating from Fort Lee. CB Richard Ellis' Richard Charles and Masahiro Tanaka represented Summit VetPharm in this transaction, while Tim Greiner of Newmark Knight Frank represented the landlord.

"This is a testament to the attractiveness of our asset and our ability to structure a transaction within these challenging market conditions," says Michael K. Nevins, vice president of asset management, Onyx Equities. "Ultimately, Summit VetPharm was in search of a space where they would have the flexibility to grow as their company continues to expand." While rental rates were not available, area rents tend to run in the $28 to $30 range.

The Meadows Office Complex is a class A, 577,000 square foot, two building office complex located at the Interchange of Route 17 and 3 in Bergen County. Built in 1981, both buildings within this complex underwent a major $6 million renovation in 2006, which included a new facade and exterior canopies, as well as upgrades to the entry lobbies, landings and cafeteria and the installation of a new on-site fitness center.

Additional amenities include a conference center that accommodates up to 75 people, a coffee shop, concierge service and on-site property management.

About Onyx Equities, LLC
Headquartered in Woodbridge, New Jersey, Onyx Equities, LLC was formed in 2004 and currently owns a portfolio of 3,318,000 square feet of office, retail, and industrial properties located in New Jersey, New York, Connecticut, Pennsylvania and Florida. Since its inception, Onyx has acquired over $680 million in assets throughout the region. For more information on Onyx Equities, LLC, contact the firm at (732) 362-8800, or visit www.onyxequities.com.