The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at more than $2.5 billion, announced it has signed a long term lease deal with a global technology leader for the Defense and Security and the Aerospace and Transport markets, for 61,224 s/f at a flex facility located at 140 Centennial Avenue in Piscataway, N.J.
After acquiring the 87,501 s/f facility in August 2005 as part of a seven-building portfolio in the Centennial Avenue submarket, Hampshire promptly undertook efforts for major site upgrades and property renovations to make the building ideal for even the most technologically advanced users.
Completed in October 2006, the renovated facility features an upgraded, re-designed, and re-decorated lobby; installations of the latest in communication infrastructure; re-configured and remodeled common areas; extensive landscaping and hardscaping; upgraded HVAC; and a completely re-designed curtain wall.
“The building’s infrastructure and flexible layout options were deciding factors for the tenant, who has plans to use the space for office and lab operations and to provide enhanced customer support services,” said Kim Stirba, a senior investment manager for The Hampshire Companies.
Positioned in the heart of Central New Jersey, the facility is conveniently located off Interstate 287 with easy access to the New Jersey Turnpike, Garden State Parkway, and Routes 18, 1, and 22. A variety of hotels, major retail, restaurants, and other amenities abound in the immediate area.
In addition, its proximity to Rutgers University and the talent-rich Central New Jersey area make this property attractive to technologically-focused companies.
Bob Ryan, Jeff Heller and Robert Pine of CBRE represented The Hampshire Companies in the transaction. The tenant was represented by Harry Klaff and Chuck Fern of JLL.