Signature Acquisitions on Sept. 14 said it successfully negotiated approximately 90,000 square feet of new office leases and renewals at Parkway Commerce Center, an eight-building office campus spanning 820,000 square feet located in Cranford and Clark, in 2021.
Highlighting Parkway Commerce Center’s recent leasing activity is more than 40,000 square feet in lease renewals from a broad range of tenants spanning the medical, pharmaceutical, technology, construction, logistics, employment, accounting and insurance sectors. Headlining the recent renewal activity is CaroTrans for 10,849 square feet and Jacobs Engineering for 10,159 square feet at 100 Walnut Ave.
The renewals demonstrate the continued appeal of office space in northern New Jersey and continued confidence in the property management and capital improvement strategies of Signature Acquisitions at Parkway Commerce Center.
In addition to the renewal activity, Signature Acquisitions has received significant interest from a diverse slate of tenants hoping to secure new homes in the strategically located campus. Led by a 15,000 square foot lease with food tech company Remarkable Foods at 11 Commerce Drive, Signature Acquisitions has signed approximately 50,000 square feet in new leases at the campus with companies searching for well-located, adaptable and modern office space, including FlexiVan and Kowabunga.
Signature Acquisitions is represented by Cushman & Wakefield’s William O’Keefe, Charles Parmelli, Shawn Straka and Joe Ratner.
20 Commerce Drive at Parkway Commerce Center. – SIGNATURE ACQUISITIONS
Parkway Commerce Center is a collection of modern, high-visibility office buildings located immediately off Exit 136 of the Garden State Parkway. The campus is minutes from Downtown Cranford and the Clark Commons Mall and boasts superior accessibility to Newark Liberty International Airport, Port Newark—Elizabeth Marine Terminal, several New Jersey Transit bus stops and a wealth of nearby amenities. The surrounding area also features a childcare center, health club, and an extended stay hotel.
Building on the campus’ location and its wide range of adaptable office space, Signature Acquisitions continues to make strategic capital investments aimed at enhancing the tenant experience across the campus. It recently opened the newly redesigned campus café at 20 Commerce Drive, which features a 24/7 grab-and-go mini-mart, TVs and a billiards table.
20 Commerce Drive is a four-story, 187,000-square-foot office building with a clock tower, making it one of the most visible landmark buildings in Parkway Commerce Center. In addition, Signature Acquisitions is in the process of renovating and expanding the café and adding outdoor tenant space at its six-story, 193,000-square-foot 100 Walnut Ave. office building.
“Our heightened focus on tenant-centric asset management, together with our new property management team and experienced leasing brokers has enabled us to attract the growing tenant demand that we have seen in the market recently,” said Sandy Monaghan, senior vice president, director of leasing at Signature Acquisitions.
Abe Brach, chief executive officer of Signature Acquisitions, added, “The recent hiring of Sandy Monaghan has helped bring our team together as evidenced by our recent leasing success and I’m excited about our future leasing prospects.
“I remain bullish about the viability of our Parkway Commerce Center, given its convenient location, to support companies with employees that desire shorter commutes, as well as to serve as a satellite location for companies based in Manhattan,” he said.
