30 Farinella Drive in East Hanover — Courtesy: Resource Realty of Northern New Jersey
By Joshua Burd
The developer of a new industrial facility in East Hanover has signed a full-building lease for nearly 76,000 square feet, according to Resource Realty of Northern New Jersey.
Brokers with the firm represented 30 Farinella 1.0 LLC, the owner of 30 Farinella Drive, in the long-term transaction with GenScript. The tenant, a global biotech firm, will occupy the entire 75,500-square-foot property about a half-mile south of Route 10.
Resource Realty’s Scott Peck and Gregory Sabato led the marketing team for the property, while Tom Sullivan of CBRE represented GenScript.
“Market interest and activity were tremendous for this Class A building,” Sabato said. “We are pleased to have completed a transaction with such a high-quality tenant.”
In announcing the deal, Resource Realty said 30 Farinella has 36-foot clear ceiling heights, 14 loading doors, parking for 83 cars and above-standard finishes. The team also highlighted the use of architectural features and landscaping to enhance the property after the use of tilt-up construction on the 11.2-acre site.
“After an extensive search of New Jersey pharma/biotech quality facilities, 30 Farinella became the target property,” Sullivan said. “We thank the ownership team at 30 Farinella for working through this transaction.”
Peck added: “New construction during COVID adds numerous hoops to jump through. The 30 Farinella LLC team faced supply chain issues, but they were able to source product because of strong national relationships. The building was delivered on time and on budget.”