EKR Therapeutics took 20,000 sf, The Intelligence Group signed on for 6,700 sf, Getting Hired signed a 4,000-sf lease and Kamine Development Co. took 5,800 sf at 1545 Route 206. Known as the Executive Quarters at Bedminster, the 55,000-sf building was completed in 1996.
Byrn Cinque and Jamie Drummund, brokers with GVA Williams, were the exclusive leasing agents for Advance. Suzanne Newmark, president of Newmark Associates represented EKR Therapeutics and Rich Gittleman of Triad Properties represented the Intelligence Group. Brian Banaszynski, vice president of leasing with Advance, represented the company in the transactions with Kamine and Getting Hired.
Advance's Bedminster II property on 206 also saw some leasing action recently. Building 1400 welcomed QRxPharma, which signed a lease for 3,546 sf of headquarters space. Actel Corp., represented by Eric Ladden of Cornerstone Real Estate, took 8,500 sf at the adjoining 1420 building. The third building in the park, 1430, saw the most activity of the three, with two new tenants. ProStraken Group will move its US headquarters to 2,262 sf in the building, and 2,142 sf will go to Kazan International.
A source within Advance tells GlobeSt.com that rental rates for all the Bedminster properties are $27 per sf plus tenant electric. According to Studley's first quarter market research, class A office space in the region typically goes for close to $30 per sf.
"The Bedminster area is very popular with smaller pharmaceutical companies, supporting service companies and a variety of other industry sectors due to its location within Central New Jersey," says Banaszynski in a company release. "Our Bedminster portfolio offers a great location five minutes from Routes 287 and 78 as well as high-quality amenities and exceptional services that each of these new tenants were seeking.
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