By Joshua Burd
A brokerage team is touting the completion of 31 leases during the first four months of 2022, accounting for more than 200,000 square feet of activity in and around central New Jersey.
The deals by NAI Fennelly, which include renewals, also translated to nearly $12.2 million in aggregate value since the start of the year, according to a news release. Led by Jerry Fennelly, Matthew Fennelly and Patrick Dintrone, the group has inked transactions across multiple asset classes including industrial, land, medical, office, retail and warehouse.
The activity follows NAI Fennelly’s 1 million square feet of leasing volume across central New Jersey and eastern Pennsylvania in 2021.
“Considering each new year presents a new slate of challenges within these markets, we’re proud to build upon our success in 2021 with a strong start in 2022,” said Jerry Fennelly, president of NAI Fennelly. “Although the uncertainty of the market can be daunting at first, our team is able to build off our extensive experience and continue to provide market-leading commercial real estate solutions to our clients to fulfill their unique business needs.”
According to the news release, highlights in the industrial sector include a 29,268-square-foot extension by the State of New Jersey at 6 Princess Road in Lawrenceville, plus a new lease with Terracycle for 16,661 square feet at 171 Jersey St. in Trenton. Meantime, the firm negotiated deals such as a 30,543-square-foot retail transaction in Ewing by Jersey College and a 24,942-square-foot medical office lease in Robbinsville, where it represented Sharbell Development in talks with Princeton Orthopedic Associates.
