Binswanger/Klatskin, which has had Motorola as a long-time client in New Jersey, has gotten the exclusive to market the facility. Located near the confluence of I-287, the Garden State Parkway and the New Jersey Turnpike, the upgraded asset is owned by Wells Real Estate Investment Trust, based in Norcross, GA.
"The 111 Durham Ave. property is being marketed for sublease for either single or multiple tenancy, for those with large requirements," according to B/K's David Knee. Knee and Charles Fern, both executive vice presidents of the firm, are heading the assignment. The company, based in Teterboro, NJ, opened a regional office at Raritan Center in Edison, NJ earlier this year.
"This property, we feel, represents one of the best leasing scenarios in Central New Jersey right now," Knee says. "That's true for tenants who are seeking a campus identity, and especially considering the building's recent upgrades."
Among other things, Motorola upgraded all office and lab functions at the property, as well as all building systems, including mechanical, electrical, plumbing and fire protection. The lobby and cafeteria were also extensively refurbished, according to Knee. Its amenities include recreational facilities and a helipad. Among the technical features are advanced card reader systems and video surveillance. Corporate neighbors include Verizon, Multiplex and Tumi Luggage.
Binswanger/Klatskin is the result of the merger, earlier this year, of the Binswanger organization and the Charles Klatskin Co. The company is a member of Chesterton Blumenauer Binswanger, an international organization with some 160 office around the world.
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