Denholtz Associates Completes 71 N.J. Lease Transactions of Over 250,000 SF in First Quarter of 2011
DENHOLTZ ASSOCIATES COMPLETES 71 NEW JERSEY LEASE TRANSACTIONS TOTALING MORE THAN 250,000 SF DURING THE FIRST QUARTER OF 2011
Denholtz Associates, a New Jersey-based real estate development company, is pleased to announce the completion of 71 commercial lease transactions within the state of New Jersey during the first quarter of 2011, which totals approximately 250,743 square feet.
“We are very encouraged by our first-quarter results, particularly the success we’ve seen in our New Jersey portfolio with increased activity and higher occupancy rates,” said Stephen Cassidy, President of Denholtz Associates. “We are seeing an active mix of new tenants in the marketplace hunting for space.”
· Bauer Publishing signed a long-term extension for 55,457 square feet at 270 Sylvan Avenue, Englewood Cliffs, N.J. H. Bauer Publishing, the largest privately owned publisher in Europe, sells more magazines, including such titles as Woman's World, at U.S. newsstands than any other magazine publishing company.
· H&S Development d/b/a NJ Rock Gym completed a long-term extension for 10,566 square feet at Fairfield Business Center in Fairfield, N.J. NJ Rock Gym is recognized as the area's premier indoor climbing center, featuring state-of-the-art climbing equipment.
· The Airsoft Factory signed a long-term lease for 19,600 square feet at 5W Chimney Rock Road in Bound Brook, N.J. for an Airsoft Arena. The company owns the largest airsoft retail store in New Jersey.
· Melfast Inc. signed an extension for 10,000 square feet at Fairfield Industrial Campus at 18 Passaic Avenue, Fairfield, N.J. Melfast is a distributor of fasteners and hardware.
“This is a great start for 2011,” addedKristine B. Hurlbut, Senior Vice President of Leasing for Denholtz Associates. “We believe that capital improvement, marketing and reinvestment strategies initiated in 2010 are already starting to produce dividends and place Denholtz in a strong position to capitalize on new opportunities throughout the year.”
About Denholtz Associates
Denholtz Associates is a privately held development, investment and management company active in office, industrial, flex and retail real estate. Headquartered in Matawan, N.J., Denholtz Associates maintains offices in Atlanta, Chicago and throughout Florida and New Jersey. The Company currently owns and manages a national portfolio of over five million square feet of commercial real estate. For more information on Denholtz Associates, visit www.denholtzassociates.com or contact Michael Beckerman, president of Beckerman, at (201) 465-8000.