Larken Associates’ Echo Executive Plaza, an office park adjacent to the Echo Plaza Shopping Center at 901 Mountain Avenue in Springfield, NJ, is 100 percent leased.
The news comes following the signing of long-term agreements with Summit Medical Group for 1,848 s/f and Vayu, a healthcare tech and products services company, for 3,500 s/f of office space.
Echo Plaza Shopping Center has been 100 percent leased since May 2013 when YO-Delight Frozen Yogurt moved in, and has been at or close to 100 percent for the past three years due to the shopping center’s location as well as the developer’s ability to customize space for its tenants.
Larken purchased the mixed-use development in 2010 and immediately embarked on speculative improvements that included overhauling the façade and completely making over the common areas and vacant units in the 41,181 s/f office building.
“We’ve had a very high leasing percentage at Echo Executive Plaza since we bought the property because of its great location at Route 22, the most heavily driven retail corridor in North Jersey,” said Victor Kelly, executive vice president for Larken Associates’ Commercial Division.
“However, our strategy to make tenant improvements to make the property more comfortable or modern for our tenants and their customers, the money we spend always comes back to us in repeat, long-term business.”
Family-owned Larken Associates has been building and managing commercial and residential real estate for nearly four decades, with a résumé that includes two million square feet of professional office & medical space, retail, warehouse/flex space & child care centers.