The Hillsborough Business Center on Stryker Lane in Hillsborough — Courtesy: Larken Associates
By Joshua Burd
Larken Associates is touting new activity at a sprawling business park in Hillsborough, where six tenants have combined to lease more than 25,000 square feet.
The developer and landlord on Thursday announced five renewals and one new commitment at Hillsborough Business Center, a 27-building, 550,000-square-foot complex along Stryker Lane. The lease renewals include 7,296 square feet for House of Marbles, 6,000 square feet for Newell Strength, 5,851 square feet for Indofine Chemical Co., 3,125 for Alltite Manufacturing Corp. and 1,500 for East Coast Yeast.
Meantime, Applied Microphone Tech. signed a new commitment for 1,362 square feet.
“Many experts are predicting industrial real estate is particularly well-positioned to emerge from COVID-19 as one of the more stable asset classes,” said Rob Marek, executive vice president of Raider Realty, the in-house brokerage division of Larken Associates. “Supply chain disruptions during the pandemic shed light on the need for enhanced onshoring and reshoring, while the continued growth of e-commerce will place further strain on an already undersupplied industrial sector.
“The strong leasing activity at Hillsborough Business Center showcases the sustained demand for flexible, well-located industrial spaces that we expect will continue over the months to come.”
In a news release, Larken noted that Hillsborough Business Center occupies 100 acres a block east of Route 206, providing space for uses such as research and development, lab, warehousing, distribution, light manufacturing and assembly. The property is surrounded by highways including routes 1 and 22 and interstates 78 and 287.