Longtime tenant expands at Larken’s Hillsborough Business Center

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Over the years, Bezwada Biomedical’s footprint at the Hillsborough Business Center has grown from 1,500 square feet to 9,000 square feet, following its latest expansion at the 100-acre industrial/flex complex.

On March 9, Larken Associates announced it negotiated a lease with Bezwada Biomedical for 3,000 square feet of space at the complex located on Stryker Lane in Hillsborough.

The agreement for new office and warehouse space at Building 8 brings the 25,362-square-foot building to full occupancy, Larken said.

Bezwada Biomedical — a drug-device research company specializing in the creation of absorbable polymers and polyurethanes for various biomedical applications — is a longtime tenant of the property, with Larken supporting the company’s growth across three buildings at the 27-building property.

“The Hillsborough Business Center’s high level of flexibility coupled with the limited supply in New Jersey’s industrial/flex sector continues to make it an ideal place for a diverse group of tenants to call home,” said Rob Marek, executive vice president of Raider Realty, the in-house brokerage division of Larken Associates.

According Avison Young’s 2021 Fourth Quarter New Jersey Industrial Insights Report, due to demand, absorption as a percentage of existing inventory was at its highest post-2001 recorded level heading into 2022, at 3.0%.

“Our long-standing partnership with Bezwada Biomedical provides us with a deep understanding of their business needs, and it allowed us to find the perfect space in the Hillsborough Business Center’s to enable them to continue to grow their operations,” Marek said.

With proximity to Route 206, the Hillsborough Business Center offers easy access to Routes 1 and 22, as well, in addition to Interstates 78 and 287.

After recently expanding two buildings at the property by 9,000 square feet each, Larken announced in January that both had reached full occupancy. In nearby Flemington, the firm is at work on the Flemington Junction Business Center, a four-building, 150,000-square-foot industrial flex park.