By Joshua Burd
A manufacturer of electronics parts has leased more than 60,000 square feet in Piscataway, in the largest of several newly announced deals by Avison Young.
Brokers with the firm represented Shelbourne Global, the landlord at 140 Centennial Ave., in the transaction with Alpha Assembly Solutions Inc. The electronic assembly development and manufacturing company is taking 61,244 square feet at the nearly 87,000-square-foot property, which sits just east of Interstate 287 and houses a mix of office and research and development space.
The deal was among four recent Avison Young deals completed on Shelbourne’s behalf, which total some 107,000 square feet, across the latter’s 631,784-square-foot commercial portfolio in Piscataway and Bloomfield. Also leasing space at 140 Centennial Ave. was Aromatic Technologies Inc., a cosmetic product manufacturer, which committed to 25,636 square feet.
“As we continue to invest in northern New Jersey, we’re optimistic that this current influx of leasing activity represents a dynamic shift in our tenants’ priorities to attract, recruit and retain top-tier talent and easily access the logistics that will help grow their business, especially given the dynamic shifts as people continue to return to the office,” said Ariel Brenner, vice president of leasing at Shelbourne. “In our tenant priorities, we continue to be hands-on, paying attention to their needs, and are seeing greater confidence in the future of their business through long-term leases. We continue to partner with Avison Young because they not only understand this market intimately but have been trusted advisors on how to best position our assets for success.”
Avison Young Principal William McCaffrey represented Shelbourne in all four transactions, which also includes a 16,000-square-foot lease by Audio Codes, an advanced voice networking and media processing vendor, at 20 Kingsbridge Road in Piscataway. At 1515 Broad St. in Bloomfield, the team brokered a 20,000-square-foot lease with Acosta, a sales and marketing agency.
“Shelbourne’s Piscataway and Bloomfield properties continue to remain competitive in the currently hot market,” McCaffrey said. “We’re excited to continue seeing leading and mid-market pharmaceutical and biotech companies show interest in the area. And at 1515 Broad Street, we’re proud to be working with Shelbourne to help market the premier space as they work to improve the on-site amenity program to better serve their tenants.”
