25 Commerce Drive in Cranford — Courtesy: Signature Acquisitions
By Joshua Burd
Signature Acquisitions has inked three new leases at a Cranford office building, helping to fuel nearly 24,000 square feet of activity across its New Jersey portfolio in the third quarter.
According to the firm, the deals at 25 Commerce Drive include a 6,279-square-foot commitment by The New Jersey Institute for Pain Management. Concurrently, NJIPR’s administrative arm, IPR Management, leased 5,691 square feet and will move to the building from another site.
The third transaction is a 1,600-square-foot lease by National Risk Managers, a full-service premium auditing and loss control company for workers compensation, general liability and garage auto policies.
“Despite the somewhat sluggish office market, we are pleased to have achieved noteworthy leasing activity across our New Jersey office portfolio in the third quarter of 2023,” said Sandy Monaghan, senior vice president and director of leasing at Signature Acquisitions. “We’re proud that Signature Acquisitions has continued our strong leasing momentum, and we remain confident that employers will continue to place value in well-located, quality office space that helps them succeed and prosper.”
The firm completed other deals in Q3 that focused on its Parkway Commerce Center portfolio, which sits directly off the Garden State Parkway at Exit 135. At 100 Walnut Ave. in Clark, insurance industry leader Professional Group Plans renewed its 3,545-square-foot lease, while Global Forwarding USA signed a 1,995-square-foot renewal at 14 Commerce Drive in Cranford.
Signature also secured a renewal at 1055 Parsippany Blvd. in Parsippany with SafetyFirst, a driver safety firm focused on assisting fleets with procedures to reduce the likelihood of commercial vehicle collisions. The company occupies 4,838 square feet at the 86,160-square-foot office building, which boasts recent renovations such as upgrades to the atrium lobby and a new on-site café with a MicroMart.
This activity continues a strong year of office demand for Signature, which has seen roughly 100,000 square feet of leasing within its New Jersey portfolio in 2023.
