A rendering of upgrades at 116 Chestnut St. in Red Bank — Courtesy: Denholtz Properties
By Joshua Burd
A tenant at Denholtz Properties’ new-look headquarters building in Red Bank has renewed its lease for more than 12,000 square feet, the landlord said Wednesday.
The user, DefinedLogic LLC, has been a tenant at 116 Chestnut St. for five years. The 12,224-square-foot renewal by the digital agency and consultancy ensures that it will remain in place at the boutique office building, as Denholtz continues with renovations to the building’s façade and a larger mixed-use project known as The Rail @ Red Bank Station.
“Having been in Red Bank for almost 20 years, we have seen tremendous change take place across the city,” said Michael Simon, partner at DefinedLogic. “We are excited for Denholtz Properties to bring that transformation over to the West Side with their improvement project at 116 Chestnut and the construction of The Rail @ Red Bank Station next door. These projects made renewing our lease an easy decision and we look forward to being an integral part of the ongoing revitalization of this neighborhood.”
Denholtz moved its headquarters to the 30,898-square-foot building earlier this year. Located steps from NJ Transit’s Red Bank train station, the property is now a key focus for the development and investment firm as part of The Rail @ Red Bank Station, a mixed-use project designed by Rotwein+Blake.
The renovations to 116 Chestnut are slated to be complete this fall. The adjacent 57-unit luxury apartment building, which will have 6,000 square feet of ground-floor retail space, is slated to come online next year 2020.
“As one of New Jersey’s most-desirable and dynamic towns, there are few other locations in the state that appeal to growing businesses and their employees more than downtown Red Bank,” said Kristine B. Hurlbut, senior vice president of leasing at Denholtz Properties. “Through our creation of a modern office building with exciting retail and residential opportunities next door, we’re confident that the strong growth fundamentals of Red Bank will allow us to continue to attract and retain high quality tenants looking to call this town home.”