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On-line Brokerage Opening Technology Development Center

EAST BRUNSWICK, NJ-DLJdirect tech unit spreads the e-commerce wealth to Central New Jersey. The tight market for commercial space is sending tenants south of Silicon Garden.

By Eric Peterson | Updated on August 10, 2000

New York has its fabled Silicon Alley, but New Jersey continues growing its Silicon Garden. Much of the dot-com and e-commerce activity here is Manhattan spillover, sent across the river by high prices and low availability. And most of it has been planted in repositioned buildings along the Hudson River waterfront or in Newark. The long-vacant Macy’s department store in Downtown Newark has been reborn as a major multi-tenant switching station, for example.

But the tightening market for space in New Jersey is sending growing companies further south in the state. The most recent example of this trend is the lease iNautix Technologies has signed for 78,400 sf at Boston Properties’ One Tower Center in East Brunswick, a Middlesex County community 35 miles southwest of Newark. iNautix is the technology unit of DLJdirect, the on-line brokerage arm of Donaldson, Lufkin & Jenrette. The new tenant will use the space as a technology development center, according to Suresh Kumar, president of iNautix.

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