Simultaneous to the facility's completion, its initial tenant has also moved in. Alliant Techsystems, a Minneapolis-based aerospace and defense engineering company, has taken 2,850 sf for a field office.
"From starting construction in February until now, the development process has gone extremely smoothly," says Brian Banaszynski, vice president of leasing for the Bedminster, NJ-based Advance Realty Group. "Alliant Techsystems is a long-time contractor with the US Army, and getting this space finished quickly was very important to help the company expand some of its mission-related activities at the arsenal."
The initial building is within PARC's "downtown" area, an initial development phase slated to total 100,000 sf of office and lab space. The long-term build-out of more than one million sf will encompass one- to three-story build-to-suit and multi-tenant buildings including labs, class A office space and multi-purpose flex space for high-tech, defense, academic and other tenants.
"We will soon announce additional tenants," Banaszynski says. "Interested companies are attracted by Picatinny's $1.5 billion of high technology equipment, the more than 60 high-tech laboratories, more than 2,000 on-base scientists, research, R&D and engineering personnel and many other intellectual assets, some of which can only be found here.
"We are receiving interest from government contractors at Picatinny, as well as from communications, electronics, homeland defense and security, and emerging technology companies from throughout the US," he says.
Advance is developing the PARC in conjunction with InSitech Inc., a locally based partnership intermediary for the US Army's Picatinny Arsenal/Armament Research, Development and Engineering Center. Picatinny Arsenal's main access is via Route 15, near a full interchange of I-80.
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