This summer, Cushman & Wakefield represented the Winter Organization, which has inked two new, long-term leases at 200 Cottontail Lane in Somerset. The commercial real estate services firm serves as the exclusive leasing agent for the 208,000 s/f, Class A office property, which continues to experience steady interest.
The transactions include a 3,120 s/f headquarters commitment by August eTech. Carolyn Sica from CBRE represented the managed IT services firm, which relocated to the property from Hamilton. Additionally, commercial contractor Tekcon Construction leased 1,800 s/f to establish a new regional office.
Cushman & Wakefield’s Paul Giannone, Todd Elfand, Kevin Carton and Joe Vacca – based in Iselin, N.J. – will head the 200 Cottontail Lane leasing team. The property includes two adjoining buildings with a center courtyard; 14.5-acre, park-like setting with outdoor seating and a fountain; and an onsite cafe.
“The 200 Cottontail campus offers a true oasis in the heart of Somerset,” Elfand noted. “This setting, and the property’s exceptional ownership and management, have contributed to steady interest and an uptick in leasing activity. The property also offers a highly-accessible location just one-quarter mile from the I-287, four-way Exit 12 interchange and within minutes of the region’s abundant retail, hospitality and lifestyle amenities.”
According to Cushman & Wakefield Research Services, small deals are driving new demand in Central New Jersey in 2019, with tenants of 10,000 s/f or less accounting for 40 percent of the 1.7 million s/f in regional office leasing through mid-year. Meanwhile, the flight to quality continued with 63.6 percent of all new activity during the second quarter taking place within Class A assets.
“We have seen significant inquiries from smaller tenants like August eTech and Tekcon Construction at 200 Cottontail Lane and we are also receiving calls from mid-size and large tenants,” Elfand added. “One of the great things about this building is its versatility and ability to accommodate requirements from less than 5,000 s/f up to 50,000 s/f.”
The Winter Organization is a New York-based, vertically integrated real estate investment management and development company.