HAMPTON, NJ-CBRE Group completed two leases totaling 44,344 square feet at Perryville III at the Perryville Corporate Park here.
The CBRE team of John Goodwin and Patricia Riedel represented the owner, Crown Properties, in both transactions at the building at 53 Frontage Road.
Celldex Therapeutics, a life sciences firm that develops new classes of diagnostic and therapeutic products for immune disorders and autoimmune diseases, took 33,363 square feet that includes a lab. The company relocated from Phillipsburg and expanded its headquarters by about 13,000 square feet; it was represented by Gerald Moore Jr. of The Garibaldi Group.
“This relocation and expansion is another typical flight-to-quality opportunity and speaks volumes about the high value of the space and amenities available at Perryville,” Goodwin said.
“Celldex leased the largest block of contiguous space remaining in the building, which brings the occupancy to 81.5%,” he said.
The building is set on 21 acres of preserved woodland, between Exits 11 and 12 of I-78. The property includes a full-service cafeteria, a conference facility, fitness center, basketball and two tennis courts and jogging trails.
In the second lease, Residential Home Mortgage Corporation signed for 10,981 square feet. The mortgage company moved to Perryville in 2010 and has expanded from 6,500 square feet
Crown Properties also recently completed the construction of a 16,262-square-foot prebuilt unit off the building's main lobby, which can be subdivided. A 6,500 square-foot, fully furnished and wired unit is available. Other spaces from 2,500-to- 8,200 square feet are available.
“We're continuing to see a surge from relocating companies seeking affordable, high-quality and accessible office solutions,” said Alexandra Rad of Crown Properties.
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