Biotech Firm Renews 44,000-SF Lease

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SHREWSBURY, NJ-Osteotech Inc. has been a major tenant at the three-building 78,000-sf Shrewsbury Business Center for the past 21 years, and the biotech company will be there for at least the next five years after renewing its 43,750-sf occupancy for that period. Further terms of the lease renewal were not disclosed. The property is owned by the Purchase, NY-based National Realty & Development Corp.

“We’re pleased to continue our relationship with Osteotech,” says Brian Sekel, managing director of office and industrial properties, who teamed with Richard Kaufman, NRDC’s general counsel, to complete the deal. “Their tenancy, I think, is a testament to the ongoing appeal of the property.”