Newmark Knight Frank (NKF) said Wednesday it inked a long-term lease for 66,413 square feet to Huber Suhner Astrolab on behalf of ownership, Ivy Realty, at 40 Technology Drive in The Warren Innovation Center.
NKF Executive Managing Director Jeff Schotz and Directors Dan Reider and Harrison Russell represented the landlord in the transaction. JLL Managing Director Jim Medenbach and Executive Vice President Bob Ryan represented the tenant.
This latest transaction marks more than 100,000 square feet of leasing activity at The Warren Innovation Center over the past year.
Huber Suhner is a global electrical and optical connectivity company based in Germany. The company operates a global production network, combined with group companies and agencies in over 80 countries.
The Warren Innovation Center is a three-building office, lab and flex campus comprised of 30, 40 and 45 Technology Drive S. in Warren. Owned by Ivy Realty, the campus is located a short distance from Warren’s downtown area, an amenity-rich area with access to fine dining, fast-casual eateries and regional shopping centers. It’s also easily accessible regionally via Route 78 and Interstate 287.
Ivy acquired the campus at the end of 2018 and has since undertaken an extensive capital improvement campaign.
At 30 Technology Drive, the company executed a $1.35 million renovation project, which includes upgrades to the common areas and building façade, as well as improvements to building systems, the installation of a new roof, and the resurfacing and restriping of the parking lot.
Renovations at 40 Technology Drive are slated to begin soon and will include common area upgrades, a new HVAC system, a new roof and the resurfacing and restriping of the parking lot.
Notable recent tenants include Graver Water Systems with a 16,985 square-foot lease represented by Managing Director Matt McDonough of Transwestern; Market Modelers with a 2,850-square-foot lease represented by Senior Vice President Jon Compitello; and Aquestive Therapeutics with a 23,589 square-foot lease extension in which it was represented by Managing Director Craig Eisenhardt and Vice President Jason Benson, both with JLL.