Covering a range of differing spaces that includes new and renewed office, industrial/flex and life sciences, Avison Young arranged 106,880 square feet in leases for Shelbourne Global.
In a Sept. 30 announcement, Avison Young said that the activity brings New York-based Shelbourne’s more than 631,000-square-foot commercial portfolio in Piscataway and Bloomfield to nearly 100% occupancy.
Shelbourne’s properties in the municipalities are located at: 80 Kingsbridge Road, 140 Centennial Ave. and 275 Centennial Ave. in Piscataway. In Bloomfield, the company owns 1515 Broad St., a Class A office and flex property that AY said is currently undergoing planned improvements and amenity upgrades.
“As we continue to invest in northern New Jersey, we’re optimistic that this current influx of leasing activity represents a dynamic shift in our tenants’ priorities to attract, recruit, and retain top-tier talent and easily access the logistics that will help grow their business, especially given the dynamic shifts as people continue to return to the office. In our tenant priorities, we continue to be hands-on, paying attention to their needs, and are seeing greater confidence in the future of their business through long-term leases,” said Shelbourne Vice President of Leasing Ariel Brenner in a statement.
“We continue to partner with Avison Young because they not only understand this market intimately but have been trusted advisors on how to best position our assets for success,” Brenner added.
Earlier this year, Avison Young arranged more than 162,000 square feet in leases for Shelbourne.
At 140 Centennial Ave., cosmetic product manufacturing company Aromatic Technologies Inc. signed a 25,636-square-foot lease, while Alpha Assembly Solutions Inc., an electronic assembly development and manufacturing company, signed for 61,244 square feet.
At 20 Kingsbridge Road, Audio Codes, an advanced voice networking and media processing vendor, leased 16,000 square feet.
In Bloomfield, Acosta, a sales and marketing agency, signed on for 20,000 square feet at 1515 Broad St.
New Jersey-based AY Principal William McCaffrey represented Shelbourne in all four transactions as exclusive leasing agent.
“Shelbourne’s Piscataway and Bloomfield properties continue to remain competitive in the currently hot market,” he said. “We’re excited to continue seeing leading and mid-market pharmaceutical and biotech companies show interest in the area. And at 1515 Broad St., we’re proud to be working with Shelbourne to help market the premier space as they work to improve the on-site amenity program to better serve their tenants.”
Shelbourne Global is a private real estate holding company that owns and manages more than 8 million square feet of commercial real estate that it says adds up to more than $1 billion worth of assets.