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Pinnacle Foods Group LLC Signs HQ Lease at Prism’s 399 Jefferson Road

Commitment Follows Re-Acquisition of Parsippany, N.J., Office Property

399 Jefferson Road, Parsippany, N.J.
PRLog - March 23, 2011 - PARAMUS, N.J. -- PARSIPPANY, N.J. - Pinnacle Foods Group, LLC, a leading producer, marketer and distributor of high-quality branded food products, has leased 85,000 square feet for its headquarters at 399 Jefferson Road in Parsippany. The long-term commitment comes just months after the 180,000-square-foot, Class A property’s re-acquisition by Prism Capital Partners, LLC of Englewood, N.J.

Pinnacle Foods Group LLC products include many trusted household names. The 150-year-old company’s brands include Duncan Hines baking mixes and frostings, Log Cabin and Mrs. Butterworth's syrups, Vlasic pickles, Birds Eye vegetables, Hungry-Man frozen dinners and entrees, Lender's bagels, Mrs. Paul's and Van de Kamp's frozen seafood, among others.

The move to 399 Jefferson Road represents a headquarters relocation from Mountain Lakes, N.J. J.C. Giordano of JLL served as broker for Pinnacle Foods in negotiating the lease, while Edwin Cohen and Gene Diaz, principals of Prism Capital Partners, represented their firm in house.

Currently, Prism is fitting out the Pinnacle Foods Group LLC space, which will include executive and administrative offices as well as a commercial test kitchen. Prism also is incorporating common area and infrastructure upgrades at 399 Jefferson Road in anticipation of Pinnacle Foods’ occupancy. The company will begin to move into its new operation in early summer 2011.

“We couldn’t be more pleased to have secured Pinnacle Foods Group to anchor 399 Jefferson Road,” Cohen noted. “This is a deeply established, growing company. By leasing here, Pinnacle Foods has continued its commitment to New Jersey, and has reinforced the appeal of the Morris County office market as well as our property.” Prism currently is marketing the building’s 95,000-square-foot balance, with tremendous activity and interest, according to Cohen.

Prism initially purchased 399 Jefferson Road in 2003 in a joint venture with Greenfield Partners; at the time, the building was fully occupied by a major health care services company. In 2006, Prism sold the building to HSBC for its own use just months before the existing tenant vacated the property. Ultimately, HSBC’s intended use for the property as a data center and mission critical facility changed, and the company never took occupancy.

“When 399 Jefferson Road came online, we bought it again for the very same reasons that drew us in the first place,” Cohen noted. “This is a unique property in an A+ market, supported by excellent accessibility and a high parking ratio.”

399 Jefferson Road is located just two blocks from a four-way interchange of I-80. It offers a 7/1,000 parking ratio and expansion potential of up to 60,000 square feet. Building features include a low loss factor and ceiling heights up to 18 feet clear.

About Pinnacle Foods Group LLC
Millions of times a day in more than 85% of American households, consumers reach for Pinnacle Foods brands. We are a leading producer, marketer and distributor of high-quality branded food products, which have been trusted household names for decades. Headquartered in Mountain Lakes, NJ, our business employs more than 4,500 people in 21 sites around North America. We are a leader in the shelf stable and frozen foods segments and our brands hold the #1 or #2 market position in 8 out of 12 major category segments in which they compete. Our Duncan Hines Grocery Division manages brands such as Duncan Hines® baking mixes and frostings, Vlasic® pickles, peppers, and relish, Mrs. Butterworth’s® and Log Cabin® syrups, Armour® canned meats, Nalley® and Brooks® chili and chili ingredients, and Open Pit® barbecue sauces. Our Birds Eye Frozen Division manages brands such as Birds Eye®, Birds Eye Steamfresh®, C&W®, McKenzie’s®, and Freshlike® vegetables, Birds Eye Voila!® meals, Aunt Jemima® frozen breakfasts, Swanson® and Hungry-Man® dinners and entrees, Van de Kamp’s® and Mrs. Paul’s® seafood, Lender’s® bagels and Celeste® frozen pizza. Our Specialty Foods Division manages Tim’s Cascade Snacks®, Hawaiian™ Kettle Style Potato Chips, Snyder of Berlin® and Husman’s® in addition to our food service and private label businesses. Further information is available at www.pinnaclefoods.com.

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