14 Cliffwood Ave. in Matawan, the home of Denholtz Associates — Courtesy: Denholtz
By Joshua Burd
A mix of nearly 200 new leases and renewals helped fuel Denholtz Associates’ portfolio in 2017, allowing it to surpass 1 million square feet in activity for the second consecutive year.
The developer and real estate investment firm, which is based in Matawan, said the activity includes 147 transactions totaling 711,396 square feet across its footprint in New Jersey. In Florida, the firm inked 44 leases for 355,815 square feet.
All told, Denholtz executed 191 new and renewal lease deals for a total of nearly 1.07 million square feet.
“When our team looked at the successes of 2016, we saw much to celebrate but also recognized substantial opportunities to build upon in the new year,” said Steven Denholtz, CEO of Denholtz Associates. “Our completion of several capital improvement projects in Florida and New Jersey provided us with the ability to negotiate lease renewals with several of our larger tenants while securing new tenants attracted by these quality spaces.
“Breaking the million-square-foot milestone in back-to-back years is a testament to the hard work and dedication of our experienced finance, leasing, and property management teams who make our continued success possible,” he added. “As we look towards the remainder of 2018, we look forward to continuing to search for investments in both Florida and New Jersey that provide us with the opportunity to both create value for our investors and provide homes for businesses of all types.”
Notable 2017 leases recounted by Denholtz include:
- Century Packaging renewed its 20,000-square-foot lease at Edgeboro Corporate Center in East Brunswick.
- Lawbook Exchange Ltd. renewed its lease consisting of 11,700 square feet at 33 Terminal Ave. in the Clark Commercial Center in Clark.
- Hiossen Inc. signed a lease for 8,277 square feet at 270 Sylvan Ave. in Englewood Cliffs.
- Ansa Assuncao, LLP signed a 6,292-square-foot lease at Metropark South at 100 Matawan Road in Matawan.
- Taylor Media leased 21,514 square feet of office space and 1,168 square feet of rooftop space at 490 First Ave. in St. Petersburg, Florida.
- Times Publishing Co. renewed its 18,250-square-foot lease at 1000 North Ashley Drive in Tampa, Florida.
- Supply Technologies LLC leased 17,094 square feet at 7036 Snowdrift Road in Upper Macungie, Pennsylvania.
- Curant Health Florida LLC expanded into 5,661 square feet and renewed 11,310 square feet at the Pinellas Business Park in St. Petersburg, Florida.
- Power Design Inc. signed a lease for 13,760 square feet at the Pinellas Business Park in St. Petersburg, Florida.
- Woodrow Orlando LLC d/b/a The Great Escape Room signed an 8,742-square-foot lease at 100 E. Pine Street in Orlando, Florida.
“Our ability to meet the needs of a wide range of tenant types and sizes, has enabled us to build a diverse tenant roster across our portfolio,” said Kristine B. Hurlbut, senior vice president of leasing at Denholtz. “Our multitenant diversification strategy ensures that our office and industrial properties can maintain high occupancy regardless of the real estate cycle.
“We look forward to continuing our momentum into 2018 through leveraging our in-house property management team and capital improvement strategy to create unique and in-demand leasing opportunities for tenants of all sizes.”
