EATONTOWN, NJ—Jones Lang LaSalle has completed a full-building lease transaction for Festo Didactic at 607 Industrial Way West in Eatontown, NJ The industrial education equipment and solution provider leased the entire 55,000-square-foot, Class A office property for five years from building owner The Donato Group.
The tenant was represented by John Buckley and Chris Conklin, vice presidents, and Jon Compitello, senior associate, all with JLL. The building owner was represented in-house by Corbett Donato, principal.
“Festo Didactic had acquired New Jersey-based Lab-Volt and was considering a number of options, including consolidating the firm into its Hauppauge, NY, headquarters,” says Buckley. “The tipping point came when the NJ Economic Development Authority approved an incentives package for Festo Didactic if the firm chose to keep its new partner in New Jersey. We were able to complete the transaction quickly, beginning negotiations with The Donato Group for the tenant in May and signing the lease in August.”
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
