Merritt acquired the property from New York City-based Intertech Corp for $2 million back in 2001and commenced construction on Phase I, which consists of three structures. The first single-story, 50,000-sf office/warehouse building was completed at the end of the year and sold to pre-leased tenant Independent Project Analysis Inc.
Tenants who have pre-leased space in the park include AeroAstro and Gold's Gym, which are taking on 24,632 sf of building two, and 34,769 sf of building three, respectively. The Phase I structures lease for $15.50 per sf and are 73% pre-leased. Completion of the buildings is scheduled for later this spring, at which point both new tenants are scheduled to move in. Construction has just gotten underway on Phase II, a two-floor, 67,000-sf office structure.
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