(Read more on the industrial market.)
PISCATAWAY, NJ-Sudler Cos. has sold 1 Corporate Pl. S. here to MarLabs Inc. for an undisclosed price. MarLabs, an India-based IT company serving the pharmaceutical industry, will use the office building as its US headquarters, relocating from an existing site in nearby Edison.
Originally done as a build-to-suit for Continental Insurance, the five-acre property is within Sudler's Corporate Park 287, named for the adjacent Interstate 287. The deal was brokered in-house for Sudler by Jeffrey Hale and Steven Spinweber. MarLabs was represented by Edmund Solarsh of the Saddle Brook office of CB Richard Ellis.
Sudler has also completed three industrial leases within its Lakewood Corporate Park in Lakewood. In the largest, Brand Aromatics, a manufacturer of flavors for food products, will relocate from another local site to 42,000 sf at 1600 Oak St., representing a full-building lease. Hale brokered the signing for Sudler, and the tenant was represented by Rosemary Caruso of Turton Commercial, Brick.
And 1-800-PACK-RAT, a Washington, DC-based self-storage and moving company, has signed a long-term net lease for 25,000 sf at 1000 Towbin Ave., a new 50,000-sf spec building. Hale again represented the owner, and the tenant was represented by Connor Faught of GVA Advantis' Washington, DC office.
Finally, the Asbury Park Press has signed a long-term net lease for 25,000 sf within the 62,000-sf 1715 Oak St. Hale was once again the in-house broker for Sudler, and the tenant was represented by John O'Hearn of the Sitar Co./Oncor International, Iselin. Terms of the various leases were not released.
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