Leasing New Space in New Jersey

For Immediate Release
Monday, August 14, 2000

NEWARK- ArchivesOne, formerly Clover Records Management, a privately held records management company, has leased 55,000 square feet of warehouse space located in Newark, New Jersey on Ferry Street. The transaction represents a further commitment to operating in the city of Newark and servicing the New Jersey marketplace. ArchivesOne currently occupies 165,000 square feet of space in Newark; this additional lease increase capacity by 33%.

"I am very enthusiastic about the deal," stated ArchivesOne CFO John Pavlovich. "The new facility will fit nicely into our existing marketplace structure and continue to move us toward our goal of being a super-regional player in the industry. It is well located near our downtown based customers and will be a neat location to attract additional Newark residents as new team members." ArchivesOne will lease the space from the Newark landlord RAR Development Associates. Harvey Fern, a broker at Archie Schwartz Company, facilitated the transaction. ArchivesOne CEO A. J. Wasserstein asserted, "Jerry Rubin at RAR is exactly the type of landlord we like to partner with. In addition to being a Newark guy, he is responsive, supportive, fair and a pleasure to do business with. Harvey Fern, the broker, is the hardest working broker I have ever seen. He really made this deal happen by shepherding everybody along."

"This additional facility will allow our team to grow the New Jersey marketplace further with high levels of customer service and the appropriate level of infrastructure," said ArchivesOne Vice President of Operations Dave Koval. "This is a great building for records management services. The building has high bay ceilings, is in super condition, and is very secure."

ArchivesOne is in the business of providing records management and storage services to banks, law firms, hospitals, corporations and medical practices. ArchivesOne operates in four distinct marketplaces: New Jersey, Long Island, Westchester County and Connecticut. Since its inception in 1991, ArchivesOne has grown substantially. From zero people and zero customers, the company now boasts over 1,000 customers and 60 team members.

For further information:
Lynn DeJoseph, DeJoseph Ohlsen Group (203) 799-2671