Specifically, SD LLC has sold the top two floors totaling 41,000 square feet to an unidentified buyer. Senior vice president Beth Krinsky and vice president Terry Kenny of Weichert Commercial Brokerage worked out the details for both sides. The sale price was not disclosed.
The Rahway Public Library occupies the ground floor of the class A building, and WCB has been hired to find tenants, with a focus on professional office users. The building is near several redevelopment projects, including the new City Plaza apartment complex, a 16-story Intercontinental Hotel and the recently renovated NJ Transit train station.
"It's a great opportunity for professional users to position themselves in a thriving area with easy access to public transportation," Krinsky says. "We expect strong demand for this space."
On the leasing front, meanwhile, Triax Pharmaceuticals has taken 20,370 square feet at Mack-Cali's 11 Commerce Dr. in nearby Cranford. The deal at the three-story, 90,000-square-foot class A building marks a headquarters move for Triax, a dermatology products producer from the nearby 20 Commerce Dr., another Mack-Cali building. Executive managing director John Cunningham of FirstService Williams repped Triax, while Mack-Cali was repped in-house by Toni Casiano. Terms were not disclosed.
And while most financial firms are cutting back, the Thomson Financial operating unit of the Thompson Corp. has taken 15,000 square feet at SJP Properties' Waterfront Corporate Center II in Hoboken. The deal involves the top floor of the 14-story, 570,000-square-foot building at 121 River St. on the Hudson River waterfront. Terms were not released, but comparable space in the submarket generally commands numbers in the $30 to $35-per-square-foot range.
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