72 Veronica Ave. in Somerset — Courtesy: Bussel Realty Corp.
By Joshua Burd
Two tenants have leased a combined 25,000 square feet of industrial and laboratory space in the Somerset section of Franklin, according to brokers with Bussel Realty Corp.
In the larger deal, H.N. International Group committed to 15,000 square feet across three units at 72 Veronica Ave., a 50,000-square-foot property just west of Route 27. The second tenant, Advanced CTS Corp, will occupy two units totaling 10,000 square feet.
BRC Executive Vice President and Partner Gregory Irving and Vice President Anthony Mircovich represented the landlord, Veronica Development Associates, in both deals. NAI DiLeo-Bram & Co. and JLL represented the respective tenants.
“VDA’s prior tenant was a manufacturer of pharmaceutical products who terminated their business operations, leaving behind a complex 50,000-square-foot office, laboratory, manufacturing and distribution facility, with vast improvements,” said Michael Ventura, managing member of VDA. “Through Greg and Tony’s tireless efforts and guidance, VDA now has two high-quality tenants occupying 25,000 square feet and several prospects for the remaining 25,000 square feet of space.”
According to a news release, H.N. International will use the space for its wholesale home textiles operations. Advanced CTS Corp will use its facility for its registered drug distribution and clinical research.
“We are pleased to have worked with these new tenants and our owner, Veronica Development, in finding the optimal real estate solution for them at the property,” Irving said. “72 Veronica provides significant backup systems, power and climate-controlled space ideal for a variety of industrial or lab uses.”
BRC noted that 72 Veronica Ave. is part of Franklin Technical Center, a complex of two 50,000-square-foot buildings with easy access to Princeton and Rutgers universities. The buildings are zoned medium industrial, with most of the space used by life sciences and technology firms.
