130K SF in Leases Inked at Silverman Basking Ridge Property

BASKING RIDGE, NJ—Cushman & Wakefield has been beating the bushes successfully for The Silverman Group’s The Offices at Liberty Corner in Basking Ridge, where a flurry of tenant activity has brought nearly 130,000 square feet of new and expanded leases to the three-building, 525,000-square-foot campus.

Cushman & Wakefield’s Bill Brown and Ben Brenner, based at the commercial real estate services firm’s Morristown office, serve as exclusive leasing agents for The Offices of Liberty Corner and brokered the recent, long-term transactions. Among them:

• Two deals brought 150 Allen Road to 100 percent occupancy. Pulte Homes leased 25,000 square feet in a relocation and expansion of its Northeast headquarters. Sarah Jones-Maturo and Remy deVarenne of CBRE represented the residential developer. Additionally, ElectroCore, a tenant at 150 Allen Road since 2013, expanded its headquarters space, adding 5,500 square feet for a total occupancy of 25,000 square feet. Eric Ladden of Cornerstone Real Estate Group represented the healthcare company.
• At 110 Allen Road, Lexicon Pharmaceuticals leased 25,000 square feet and is relocating its headquarters to the building from Princeton. The firm was represented by Geoff Schubert and Todd Ward of CBRE. Also, a global information technology company relocated into 20,000 square feet at 110 Allen Road, represented by Pamela Klesert of Cresa. At the same building, a billion dollar pharmaceutical company has expanded its New Jersey offices located there by 10,000 square feet to occupy a total of 30,000 square feet. Cushman & Wakefield’s Josh Cohen and Marc Rosenberg served as tenant brokers.
• Finally, a tenant expansion brought 106 Allen Road to 96 percent occupancy. A Danish ingredients company, which relocated its US headquarters to The Offices at Liberty Corner last year, added 3,500 square feet for a total of 16,500 square feet. Cushman & Wakefield’s Harlan Hollander represented the company in the transaction.

“The I-78 corridor office market has gained momentum, and The Silverman Group has done an excellent job positioning The Offices at Liberty Corner competitively,” says Brown. “The influx of new leases and continued steady inquiries at the property tie directly to the outstanding work environment the ownership has created. The renewals testify to the responsive, flexible approach our client takes to accommodating tenant needs.”