A two-building office complex at 310 and 322 Route 35 South in Red Bank — Courtesy: Denholtz Properties
By Joshua Burd
A telecommunications consulting firm has agreed to lease nearly 5,200 square feet at Denholtz Properties’ newly acquired, two-building office complex in Red Bank.
Denholtz announced Tuesday that Xela Communications LLC is taking 5,175 square feet at 322 Route 35 South, a three-story building within the 79,022-square-foot complex. The landlord, which is also based in Red Bank, acquired the property earlier this summer through a sale-leaseback agreement with Markel Service Inc.
Larry Dickstein of Dickstein Real Estate Services represented the tenant.
“Our recent acquisition of 310 and 322 Highway 35 South is another opportunity through which we’re continuing to solidify our roots and growing commitment to the borough of Red Bank,” said Kristine B. Hurlbut, senior vice president of leasing at Denholtz. “Red Bank, and by extension, Monmouth County are rapidly becoming one of New Jersey’s most-desirable submarkets, as evidenced by the many growing businesses such as Xela Communications that are looking to call the area home.”
Denholtz noted that the complex includes amenities such as a fitness center and cafeteria at 310 Route 35 South, also known as the North Building, while the South Building at 322 Route 35 South is home to a tenant lounge. Both structures feature redundant backup power.
Markel continues to lease 100 percent of the South Building on a long-term basis as well as 22 percent of the North Building, Denholtz said. Other tenants include Traub Lieberman Straus & Shrewsbury, a national legal firm with seven offices across the country, and the health care cybersecurity firm known as Sensato.
The deal with Xela Communications, which helps clients find customized telecommunications solutions, brings the North Building’s occupancy rate to 90 percent.