Larken begins construction on 19,000-SF property
Jessica Perry//October 27, 2021//
Larken begins construction on 19,000-SF property
Jessica Perry//October 27, 2021//
A project beginning construction in Somerset County will add a 19,000-square-foot professional and medical office building to a complex located along Route 22, marking the final phase of a value-add strategy at the property for Larken Associates.
On Oct. 27, Larken announced that Core Enterprises, its in-house construction team, will oversee the development of a single-story office building at the Branchburg Centre, expected to be completed in Summer 2022.
According to Larken, the new building at 3040 U.S. Route 22 W. in Branchburg will feature built-to-suit floorplans and private entrances, bathrooms, and individual HVAC units for each suite.
“Consistently ranked among one of the top places to live in the nation and already home to a wide range of businesses, Somerset County exemplifies the types of suburban office markets poised to emerge with strength out of the COVID-19 pandemic,” Victor Kelly, executive vice president of Raider Realty, Larken’s in-house brokerage division, said in a statement.
Larken acquired Branchburg Centre in 2017 when its single, 90,000-square-foot office building was 74% leased and immediately began a capital improvement plan, which included new flooring and paint; a recessed ceiling and wood tile accent wall in the main conference room; and updates to the lobby and café and restrooms through the building.
The building, development and management company said it also added custom exterior signage, a monument sign and front canopy glass vestibule to “further accent the interior renovations.”
During renovations, and shortly after its acquisition, Larken said it achieved 100% occupancy at the property through what it referred to as an aggressive marketing and leasing campaign. The firm said that strong activity reinforced its plan to build the 19,000-square-foot second building.
“Through the construction of this building, we aim to tap into the highly favorable long-term growth demographics of the market and create a space tailor-made for the dynamic and growing companies hoping to call Somerset County home,” Kelly added.
Earlier this month, Larken announced a new tenant at the Hillsborough Business Center and the lease-up of Campus View Plaza in Branchburg.