Signature Acquisitions, one of the region’s most active and prestigious owner/managers of Class A suburban office space, announces they have recently negotiated over 44,000 square feet of new office leases and renewals at Parkway Commerce Center in Cranford, N.J., and over 11,000 square feet of new leases at 100 Matawan Road in Matawan, N.J. These superior Class A office assets just off the Garden State Parkway offer outstanding access and exceptional Parkway visibility.
A 6,629-square-foot lease at 25 Commerce Drive with Flipt, LLC, a pharmacy benefits management alternative firm, led a string of 13 leases in Parkway Commerce Center, an eight-building office campus spanning 820,000 square feet located in Cranford and Clark, N.J. In addition to the deal with Flipt, LLC, other new leases within the campus include the United States General Services Administration, Reliant Fund Services, Hasselblad, Inc., Fundigo and Garden State Mortgage. Topche & Company, and Krieger Worldwide both expanded and extended their office space leases. Additionally, five tenants renewed their leases, namely, Care Alternatives, CrossCountry Mortgage, Funding U 123, Rhythm Medical and Gramercy Capital. Signature Acquisitions was represented in each of the leases at Parkway Commerce Center by Cushman & Wakefield’s William O’Keefe, Charles Parmelli, Shawn Straka and Joe Ratner.
Further down the Garden State Parkway, two new leases totaling 11,022 square feet were completed at 100 Matawan Road, a recently renovated 132,655-square-foot Class-A office building that sits on 5.17-acres, offering close proximity to the Matawan Train Station as well as Routes 287, 440, 1 and 9 and the New Jersey Turnpike in addition to its prominent location in view of the Garden State Parkway at Exit 120. Office Evolution, a co-working facility signed on for 8,130 square feet, while transportation tech firm Avlino took 2,892 square feet. Signature Acquisitions was represented in these deals by John Buckley and Erin Moran of JLL.
“Significantly, eight of the 13 leases in Cranford were new leases or expansions of existing space, and both of the deals in Matawan were new leases,” commented Sandy Monaghan, SVP, Director of Leasing at Signature Acquisitions. “This is a positive trend over the recent past when renewals were the dominant activity in the market. These new leases and expansions show a belief in business fundamentals, and a strong level of confidence in the continued need for well-located, well-managed office spaces. Further, these 15 leases represent a wide diversity of business industries, which seems to suggest that business growth and office space demand is broadly based”.
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