PINE BROOK, NJ-First Industrial Realty Trust has named Cushman & Wakefield as the leasing agent for its Montville Business Center on Chapin Road here. The brokerage team led by Stan Danzig, Jules Nissim, Stephen Elman and Robert Adams will market approximately 130,000 square feet at the 700,000-square-foot, nine-building business park.
“Montville Business Center is, unquestionably, one of New Jersey’s premier high-tech/flex parks,” Adams said in a statement. “The center houses both local and regional businesses as well as satellite offices for major corporations. Tenants are consistently drawn to the quality accommodations it offers, the ease of access it affords and First Industrial’s commitment to customer service.”
Located on Route 46, the center includes office, high-tech and light industrial space. Current availabilities range from 3,000 to more than 9,000 square feet, with opportunities to combine suites for nearly 19,000 square feet of contiguous space. Rents were not disclosed, but asking rates for office and industrial rates in the area range from $4.95 per square foot for warehouse space to more than $27 per square foot for office, according to LoopNet.
The assignment represents the first time Danzig, Nissim, Elman and Adams, all based at Cushman & Wakefield’s New Jersey headquarters in East Rutherford, will work with First Industrial Realty Trust in an agency capacity.
“We have a long history of interaction with First Industrial from the tenant side, and we are excited about the opportunity to now serve as leasing representative for this well-respected owner.”
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
