Glenpointe in Teaneck seeks support for new building project

TEANECK - An attorney representing the Glenpointe development, Wendy Berger, made a presentation at the Jan. 7 Teaneck Council meeting asking for the councils support for a proposal to build a new office building on the site.

The Glenpointe had received the planning boards approval several years ago for the project, but before construction moved forward, the applicant decided a larger building would better suit their needs.

The commercial component of the development contains about 525,000 square feet of office space. At the present time more than 97 percent of the office space is leased, explained Berger, indicating a large need in the area.

"Because of its location, with direct access from the highway, and having amenities such as the hotel, gym and spa, theres great demand for office space within the complex," she said.

In 2006, the planning board approved an eight-story 200,000 square foot building to be constructed on what is now an open parking lot on the site. An overhead walkway, connecting the building to the parking garage and Marriot Hotel, was also approved. Now, Glenpointe Associates hopes to build an approximately $342,000 square foot office building on the vacant parcel, in lieu of the previously approved building.

"Doing so will allow us to have the capability to bring a large tenant into the property and also give the capability of existing tenants in the complex additional space to grow and stay in the Teaneck community," said Berger.

There would be no change in the set back of the building or any other bulk variances required as a result of the larger building, she said.

The area where the building would be constructed currently generates about $18,000 annually in property taxes. If the larger building was constructed, it would contribute an estimated $1.7 million in taxes, based on current tax rates, said Berger.

The Glenpointe development, which includes office space, the hotel, residential properties and a senior living complex, currently pays about $7.5 million in taxes each year.

"We believe that the additional taxes paid to the community would not result in any additional burdens to the community, in that there are no school children being generated by the additional office complex, and very little services are needed," she said. "It will also have spill over benefit effect to the community, housing over 1,000 additional employees, who will use the services of the Teaneck community, business districts, stores, gas stations, banks, and restaurants. In our estimation, doing a larger building would only have a positive impact."

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Glenpointe in Teaneck seeks support for new building project