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Denholtz Renews Tenant Early in Piscataway

PISCATAWAY, NJ-With an offer of a rent reduction, Denholtz Associates locked up an early renewal with Advance Telecom Resources Inc., a tenant at 141 Ethel Rd. West here.

By Maria Wood | Updated on August 26, 2009

PISCATAWAY, NJ-With an offer of a rent reduction, Denholtz Associates locked up an early renewal with Advance Telecom Resources Inc., a tenant at 141 Ethel Rd. West here. The tenant re-upped its 20,300-square-foot space for another two years.In an interview with GlobeSt.com, Kristine Hurlbut, vice president of leasing at Denholtz, declined to give many specifics on the lease terms. But says the tenant’s rent was reduced “so they could get some upfront relief immediately and [it gave] them some incentive to renew early.”

A recent report from Colliers Houston & Co. pegged the Central New Jersey average industrial asking rent at $4.97 per square foot. David Zimmel, president of Zimmel Associates, represented both the tenant and the landlord in the deal.

He confirms to GlobeSt.com that the 32,500-square-foot warehouse building is 100% leased. Advance Telecom has been in the building since 2002, and prior to that, the company had been a longtime tenant in a Denholtz property in East Brunswick. “We’ve had a long-term relationship with them,” Hurlbut says.

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