PISCATAWAY, NJ-The Hampshire Cos. completed a long-term lease of 61,224 square feet at one of its Piscataway buildings to the Thales Group, a defense and aerospace contractor.
The deal was sealed nearly a year ago, according to Chuck Fern of Cassidy Turley, who was with Jones Lang LaSalle at the time and worked with Harry Klaff in representing Thales. The building at 140 Centennial Avenue was renovated for Thales, which plans to use it for office and laboratory operations, he said.
Mr. Klaff was not available for comment, and neither were members of the CBRE team that represented Hampshire–Robert Ryan, Robert Pine, and Jeffrey Heller, who is now with Avison-Young.
Hampshire acquired the 87,501-square-foot facility in Piscataway in 2005, as part of a seven-building portfolio. The company updated the lobby, upgraded the communication infrastructure and technology, put in new heating and cooling systems and improved the landscaping, it said in a press release.
“The building's infrastructure and flexible layout options were deciding factors for the tenant, who has plans to use the space for office and lab operations and to provide enhanced customer support services,” said Kim Stirba, a senior investment manager for The Hampshire Companies, in the release.
Thales Group is a France-based company that designs and builds electrical systems and provides services for the aerospace, defense, transportation and security markets
The Centennial Avenue building is situated off Interstate 287, with access to the New Jersey Turnpike, Garden State Parkway and Routes 18, 1 and 22.
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