Branchburg Centre at 3040 Route 22 West in Branchburg — Courtesy: Larken Associates
By Joshua Burd
Developer and property manager Larken Associates closed some 350 transactions in 2017, accounting for nearly 500,000 square feet across its commercial portfolio.
The Branchburg-based firm said the activity took place in its retail, office and medical office buildings in New Jersey and Pennsylvania, coming alongside acquisitions like the 90,000-square-foot Branchburg Centre. Larken has kicked off renovations at the two-story building at 3040 Route 22 West, including the addition of two awnings, fresh landscaping and new signage, while interior upgrades to an existing gym, restrooms, conference room and cafe are set to begin.
The firm also touted expansions at the building by Kronos Saashr, a workforce management company, and NeWeb, a product design and manufacturing company.
Meantime, tenant fit-outs are underway for the third and final phase of Larken’s Raritan Valley Professional Center, a three-building, 82,000-square-foot complex near the Somerville Circle. The final building is a two-story, 14,000-square-foot structure that is 50 percent preleased, with occupancy set to begin this spring.
Other 2017 deals in Larken’s portfolio include a 9,000-square-foot lease at the Carriage House by Somerset Pediatric Group.
The firm also noted that it expanded its largest commercial property in 2017. At Fairless Hills Towne Center, a 300,000-square-foot, grocery-anchored shopping center in Bucks County, Pennsylvania, Larken built a 45,000-square-foot temperature-controlled storage space.
