2 South Gold Drive in Hamilton — Courtesy: Denholtz Associates
By Joshua Burd
A home care provider has leased more than 8,000 square feet at a Hamilton office building, bringing the property to full occupancy less than a year after it changed hands.
Denholtz Associates, which owns the property at 2 South Gold Drive, on Thursday announced the 8,039-square-foot commitment by VNA Home Care of Mercer County Inc. The deal fills a space that was vacant for 10 years within the six-building, 236,284-square-foot Horizon Center complex, which the firm acquired last April from Mack-Cali Realty Corp.
Robert Loderstedt and Stephen Tolkach of Newmark Real Estate of Princeton LLC represented Denholtz. Brandon Walsh of Walsh Commercial Real Estate LLC represented VNA Home Care, which operates in the Trenton and Princeton areas and provides home care services to seniors such as medical treatment and assistance with daily tasks.
In a news release, Denholtz said Horizon Center was 85 percent leased at the time of its acquisition, but included two underperforming buildings. One of them, 2 South Gold Drive, was 43 percent occupied, prompting its new owner to launch an aggressive leasing effort.
Like the other buildings in the complex, the 33,962-square-foot, single-story office property offers easy access to the New Jersey Turnpike and routes 1 and 130, along with mass transit.
“Prior to our acquisition of Horizon Center, our team recognized the portfolio’s location and adaptability could make it stand out in an undersupplied office market despite its occupancy issues at the time,” said Kristine B. Hurlbut, senior vice president of leasing at Denholtz Associates. “Backed by our decades of experience in stabilizing similar assets and our knowledge of the marketplace, we have been able to leverage the strong fundamentals of the portfolio to negotiate a significant number of leases and bring it near full occupancy.
“In addition to our constant emphasis on tenant acquisition, our ongoing hands-on tenant service will ensure that this space will continue to see high occupancy and stand as one of the premier office complexes in the market.”
