RANDOLPH, NJ-Norwalt Design Inc. and Surface Source International have signed lease expansions at Randolph Business Center at 961 Route 10 East here, says NAI James E. Hanson, which represented owner RIC Associates LLC and tenants in both transactions.
Nowarlt Design, a resource for automation machinery for numerous industries, has signed a 10,495-square-foot, five-year extension. Surface Source International, a supplier of specialty and laminate films, has signed for 8,404 square feet.
"These are brand new, premier industrial/flex spots with good parking and a prime location," said NAI Hanson senior vice president John Schilp, in a statement. Barry J. Cohorsky, vice president, also represented all parties. "To sweeten the deal, the landlord is offering competitive rates and possible financing."
The asking rent is $6 per square foot, with estimated condo fees of $2.10 per square foot and taxes of $1.42 per square foot, according to LoopNet. Asking rents for other industrial facilities in the area range from $3.75 per square foot to $8.50 per square foot.
The Randolph Business Center is close to Routes 80 and 206. Four availabilities, ranging 7,440 to 9,592 square feet with a maximum contiguous space of 15,102 square feet, remain. Those units also are available for sale as industrial condominiums.
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