45 Technology Drive in Warren — Courtesy: Newmark
By Joshua Burd
A purveyor of children’s crafts and activity kits has renewed its full-building lease at a nearly 46,000-square-foot building in Warren, according to a brokerage team with Newmark.
The tenant, Horizon Group USA, maintains it headquarters at 45 Technology Drive under a lease with Ivy Realty. Newmark Executive Managing Director Jeff Schotz and managing directors Dan Reider and Harrison Russell represented ownership in the transaction, noting that the building is part of a newly upgraded and rebranded campus.
“This full-building lease renewal is the latest in a long list of successes for ownership, which has executed over 280,000 square feet at the campus since acquiring it less than three years ago,” Reider said. “It’s a real testament to Ivy’s hands-on approach and high-quality work at the Warren Innovation Center.”
Horizon Group, which offers a range of activity kits, products and crafts with custom designs across a wide array of national brands and programs, occupies 45,805 square feet at the complex. The property benefits from a location near Interstate 78 and downtown Warren, along with Ivy’s recent physical enhancements.
The Greenwich, Connecticut real estate investor and developer completed those upgrades after purchasing the campus in 2018. At the time, the portfolio included four buildings — 7 Powder Horn Drive and 30, 40 and 45 Technology Drive — which saw leasing activity including a full-building renewal by Celgene Corp. and a new 66,413-square-foot commitment by Huber + Suhner Astrolab Inc.
Ivy sold 30 Technology Drive and 7 Powder Horn last year, with Newmark working as its broker in those transactions.