Press Release brought to you by CBRE

CBRE Completes Two Deals At Renovated Perryville Corporate Center

05/17/2012

 

CBRE Completes Two Deals At Renovated Perryville Corporate Center

- Handful of Opportunities Remain at Class-A Clinton, NJ Property With Plentiful Amenities

 

EAST BRUNSWICK, N.J. (May. 17, 2012) – CBRE, New Jersey’s largest commercial real estate brokerage firm, announced today the completion of two lease transactions at Perryville Corporate Center in Clinton, NJ.. The deals represent approximately 25,000 square feet of new absorption this year. Both tenants are relocating their headquarters to the 280,000- square foot Class A site.

CBRE Senior Associates Patricia Riedel and John Goodwin handled the transactions on behalf of the ownership, Crown Properties.

In the first transaction, Malick & Scherer signed a 13,741 square foot lease. Goodwin also represented the tenant, a firm of consulting engineers, construction inspectors, and land surveyors, which is relocating from 295 Route 22 in Whitehouse Station, NJ.

In the other transaction, Marsulex Environmental Technologies signed an 11,371 square foot lease and was represented by Vice President Lee Barnes and Principal Peter Blanchard of Garibaldi. Marsulex provides air pollution control systems and services that minimize pollutants and acid gas from emissions of electric utilities, petrochemical and general industrial customers. The company is relocating from Lebanon, PA.

“The Malick & Schere deal is another classic example of the ‘flight-to-quality’ industry trend with both companies relocating to upgraded space to take advantage of current market conditions,” said Goodwin.

According to Riedel, “The highly efficient building is also ideal for a reverse commute and features many desirable amenities. It’s situated within a park-like environment with a great window line. ”

Crown Properties purchased the asset and embarked upon a renovation and leasing campaign that brought it up to 70 percent leased. In 2010, Ikaria Therapeutics leased the entire third floor to become the anchor tenant. Other tenants include Hatch Mott MacDonald and Enperion.   

Amenities include a full-service cafeteria, fitness center, conferencing facility, storage space, a walking trail and basketball and tennis courts. The building is located immediately off Exits 11 and 12 of I-78 and approximately 20 minutes from the intersection of I-78 and 287. A few blocks of space are available including 16,262 rentable square feet on the first floor, 10,921 rentable square feet of plug-and-play space, in addition to a large block totaling 35,067 rentable square feet available on the second floor. 

 

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2011 revenue).  The Company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at www.cbre.com.

 

###

05/17/2012 - 14:35

Source

CBRE

Want more news about CBRE? Click here