Bridgewater Business Park in Bridgewater — Courtesy: Zimmel Associates
By Joshua Burd
Three tenants at a Somerset County business park have renewed their leases, recommitting to a combined 78,000 square feet at the property.
Zimmel Associates, which represents ownership at the Bridgewater Business Park, said the transactions include a seven-year renewal by Absolute Fencing Gear. The tenant occupies 24,000 square feet at 28 East Chimney Rock Road, one of 16 flex industrial buildings at the complex off Interstate 287.
“Absolute Fencing Gear, the world’s leading manufacturer and supplier of equipment and services for Olympic-style fencing, loved the location, right off Route 287 in Bridgewater,” said Jordan Zimmel, a vice president with Zimmel Associates. “Due to the lack of available space in the market today, they felt it was best to enter into a long-term deal.”
Working on behalf of an affiliate of Denholtz Properties, Zimmel also secured a 10-year, 28,000-square-foot renewal with Zoned Sports Academy Inc. The tenant operates a baseball and softball developmental training facility at 24 East Kearney St.
Meantime, Chaves Automotive Inc. signed a five-year renewal for the 26,000-square-foot, freestanding building at 26 East Kearney St.
Zimmel noted that the complex, which total 380,000 square feet, provides quick access to Route 22, Interstate 78 and Routes 202/206, among other highways.
“The market remains extremely strong in New Jersey, the vacancy rate in the whole state overall is probably 2 percent or less,” Zimmel said. “Companies not needing a different amount of space will tend to renew now, because there are not many options to look at.”