Signature Acquisitions reported healthy leasing activity in the office sector for the first quarter of 2023.

The firm announced April 10 it negotiated more than 28,700 square feet in new, expanded and renewed leases across its Garden State portfolio for Q1, which comes on the heels of a strong 2022.

Last year, Cranford-based Signature Acquisitions posted nearly a quarter million square feet in leasing within New Jersey, closing Q4 with more than 60,000 square feet of new, expanded and renewed office leases during the period.

Waterview Plaza

Signature said it signed four deals at Waterview Plaza, located at 2001 Route 46 in Parsippany-Troy Hills, during Q1 2023:

• An 8,587-square-foot renewal for the northern New Jersey office of regional law firm Kiernan Trebach LP;
• A 4,840-square-foot renewal with international law firm Morrison Mahoney LLP;
• A 2,284-square-foot expansion for national firm Synerfac Technical Staffing’s North Jersey office;
• And a 2,178-square-foot expansion with Snellings Law LLC.

100 Matawan Road

Located directly off Exit 120 of the Garden State Parkway, 100 Matawan Road in Matawan sits on the border of Monmouth and Middlesex counties. Here, Signature Acquisitions completed a 5,430-square-foot renewal with industrial paper broker and supplier Trebor Inc. According to the real estate owner and management company, the move extends Trebor’s tenancy at the space to more than 30 years.

Parkway Commerce Center

Signature Acquisition’s Parkway Commerce Center collection in Cranford saw a cumulative 5,400 square feet of activity in Q1, according to the firm.

• OneMain Financial Group signed a new lease for 2,045 square feet of space at 20 Commerce Drive;
• Creative services firm Pinex Team and home improvement contractor Cubes Builders each signed a leased for undisclosed amounts of space at 14 Commerce Drive;
• Cornerstone Day School, a private therapeutic school for students in grades 5-12, expanded its footprint by an undisclosed amount of space at 10-12 Commerce Drive;
• And Grammercy Capital renewed its lease at 25 Commerce Drive.

“We are pleased to have achieved noteworthy leasing activity across our New Jersey office portfolio in the first quarter of 2023,” Signature Acquisitions Senior Vice President and Director of Leasing Sandy Monaghan said in a statement. “While it’s true that the office space market continues to be impacted by the significant headwinds in the economy from both current inflationary pressures and an evolving remote work environment, we have nonetheless continued our strong leasing momentum across our New Jersey portfolio.

Last week, Cushman & Wakefield released initial findings for the office sector in Q1, reporting an increase in vacancies for the third consecutive quarter (up to 21.2%) noting, however, that demand for new and attractive spaces persists as the flight-to-quality trend continues.

“We remain confident that employers will continue to place value in well-located, quality office space for their employees, and Signature Acquisitions is committed to offering superior workplaces for companies and their employees to help them to succeed and to prosper,” Monaghan added.