59 Route 17 South in Allendale — Courtesy: Avison Young
By Joshua Burd
Faropoint has leased more than 60,000 square feet of industrial space in Allendale to a growing life sciences company, in a newly announced deal by Avison Young.
The tenant, Regenity Biosciences, will occupy a full building at the Allendale Industrial Park as part of the transaction at 59 Route 17 South. The 60,215-square-foot property will serve as a facility for a company focused on regenerative technologies serving the medical device industry.
Avison Young principals Ed English, David Herbert and Ron Ganter represented the tenant.
NAI James E. Hanson’s Ken Lundberg, Patrick Lennon and Lorenzo Lambiase represented Faropoint.
“In the past 18 months, the New Jersey industrial real estate market has changed dramatically in favor of tenants,” English said. “A well thought out, strategic approach to the market will yield a variety of properties and landlords for good tenants to choose from, and it was a pleasure to work with Regenity’s leadership team on this project.”
