In the first transaction, amusement equipment operator Elaut USA Inc. signed a 25,000- square-foot lease agreement at 1000 Towbin. Jeff Hale, vice president of leasing for Sudler, represented the owner in this transaction, while William Hettler Jr. of Logistics Realty represented the tenant. The space will serve as Elaut's corporate headquarters.
Built on spec by Sudler, 1000 Towbin is a 50,000-square-foot industrial/warehouse facility, which features 28-foot clearance ceilings and an ESFR sprinkler system. Plans are also underway for an extensive parts and service department, as well as room for a support staff and executive offices. With the addition of Elaut, the building is now 100% occupied. The other 25,000 square feet of space is being leased by 1-800-PACK-RAT.
In the second deal, R Tape/Custom Extrusion Technologies, part of the IGI Network of companies, signed a 42,000-square-foot lease extension agreement to occupy the entire space available at 1650 Corporate Park West. Hale represented both the landlord and tenant in this transaction.
"In the past several months, we have seen a significant improvement in the leasing activity in our corporate park, due to its accessibility to the area's major urban cities, the affordable rates that we are able to offer tenants and its designation as an Urban Enterprise Zone," Hale says.
Located on Route 70 and Exit 88 of the Garden State Parkway, Sudler's Corporate Park property is a mix of 1.3 million square feet of light industrial, distribution and office space.
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