300 Kimball Drive in Parsippany — File photo (courtesy: JLL)
By Joshua Burd
Signature Acquisitions has secured a new tenant at a Parsippany office building, leasing nearly 30,000 square feet to a global consumer goods manufacturer.
The deal with Groupe SEB, which has taken 29,900 square feet at 300 Kimball Drive, is part of 143,000 square feet of activity across the landlord’s portfolio in the second quarter. That includes 13 total transactions, with new leases and expansions accounting for 132,000 square feet and renewals totaling more than 11,000 square feet.
At Parkway Commerce Center, at 11 Commerce Drive in Cranford, Signature leased 22,200 square feet to the Internal Revenue Service and 1,300 square feet to human resources company Viventium, both new tenants. The firm also signed a 4,600-square-foot renewal with Topche & Co., an accounting and business consulting practice.
Signature’s other Q2 activity includes a new 4,200-square-foot lease expansion at 100 Matawan Road in Matawan with Key Food Stores Co-Operative.
“The strength of greater New York’s local economy means companies are feeling more confident in committing to the office space that fits their needs,” said Sandy Monaghan, a senior vice president with Signature Acquisitions. “Moreover, tenants are narrowing their searches toward properties with best-in-class, hands-on management. We’re benefitting from this shift.”
Several of the firm’s new leases in Q2 took place at Hauppauge Office Park, a 270,000-square-foot property in Long Island’s Suffolk County. They include a new deal with electronics manufacturer Microchip Technology and an expansion with the Law Office of Judith C. Garcia.
At 85 Crystal Run in Middletown, New York, Signature welcomed accounting firm PKF with a new 7,600-square-foot lease.
“As marquee brands continue to join the Signature portfolio, we’re proud that our disciplined approach to investing and management has successfully created environments where our tenants can thrive,” Monaghan said.
