SOMERSET, NJ-Parsons Service Co. and Bernafon Inc. have signed lease renewals for a total of 18,155 square feet at Vantage Court, the class-A office facility at 200 Cottontail Lane here, says CB Richard Ellis, which represented the owner, the Winter Organization.
Parsons, an engineering, construction, technical and management services company, extended its lease of 12,987 square feet. The company has been a tenant at Vantage Court since February 2004. A tenant since 2003, Bernafon, the world’s largest producer of hearing aid devices, renewed its 5,258-square foot lease.
"Over the past six months, we have seen an uptick in activity within the robust Route 287 submarket, which we believe will continue as liquidity in the market continues to become available," said Geoffrey Schubert, SVP of CBRE. VP Robert Denney also represented Winter Organization.
Built in 1985, Vantage Court is undergoing a renovation of its building envelope, landscaping and fountain. Office rents in Somerset range from $14 per square foot to $24.50 per square foot, according to LoopNet. Carolyn Sica and Kurt Burdack, both SVPs of CBRE, represented Parsons, while Anthony DiNardi of ReMax Competitive Edge represented Bernafon.
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