WARREN, NJ-Normandy Real Estate Partners has signed two new tenants to a total of nearly 28,500 sf of space at the company's 20 Independence Blvd. here. As reported by GlobeSt.com, the Morristown-based Normandy acquired the 120,800-sf asset a year ago from an entity controlled by Hines Interests for an undisclosed price.
Joining the tenant roster at the building, located within the Somerset Hills Corporate Center, are SIRVA Worldwide Inc., a Chicago-based relo consulting firm, and Aeterna Zentaris Inc., a Quebec-based biopharmaceutical company. SIRVA will now be on-site with 17,741 sf, while Aeterna Zentaris is taking 10,741 sf.
Terms of the two leases were not released. The nearly 50,000 sf still available in building is currently listed with an asking price of $29.50 per sf, and Geoffrey Schubert, Craig Eisenhardt and Robert Ryan of CB Richard Ellis have the exclusive leasing assignment.
Since buying the building a year ago, Normandy has launched an improvements program involving its lobby and common areas, including a two-story lobby and a new cafe. “Our enhancement program is nearing completion,” says Normandy VP William O'Keefe. Located off Interstate 78, the building counts Citigroup, Verizon, Merck and Pfizer among its corporate neighbors.
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