A global online trading services provider, GAIN's lease brings occupancy at the 167,000-square-foot office building to over 80%, according to Justin J. Gingeleskie, director of leasing for SK Properties. GAIN is set to move into its new space in December.
Gingeleskie notes that in addition to the building's efficient floor plates, GAIN was attracted to the back-up generator infrastructure and power supply necessary to support the company's technological requirements and 24/7 operations.
The three-story Bedminster One is in the final stages of a major capital improvement program, including renovations to all of the common areas and bathrooms; the main lobby, the men's and women's locker/shower facilities in the fitness center; and a new, expanded café and seating area. The building also includes covered parking, on site security guard/desk at the main entrance and tenant storage space.
"This is the eighth transaction we've consummated at Bedminster One this year, including leases with HCL America, Inc.; Symyx Technologies, Inc.; and ING," Gingeleskie tells GlobeSt.com. "More importantly, SK Properties has already completed 50 leases this year--a 40% increase over our 2008 transactions--bringing the firm's overall portfolio occupancy above 95%.
"In today's challenging commercial real estate climate, there's a flight to quality as tenants are not only looking at quality assets but quality landlords," he continues. "SK has been operating for 50 years and remains one of the few family-owned-and-managed companies in an industry currently dominated by pension funds, insurance companies and REITs."
"In a marketplace with numerous choices, there is a flight-to-quality among tenants," says Jamie Drummond, managing director, FirstService Williams. "SK Properties recognizes the value of providing a best-in-class facility and has brought Bedminster One to a market-leading level."
Located at 135 Routes 202/206 at the crossroads of Routes 78 and 287 in Somerset County, Bedminster One offers modern systems and features, combined with a park-like setting, which includes reflecting pond, picnic area and walking trails.
Current tenants include Beacon Health Care, Ethicon, Symyx Technologies, HCL America, Associated Life Brokerage, ING, Sky Net Satellite Corp., AMCS Corp. and Jameson Eaton & Wood Inc.
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