HILLSBOROUGH, NJ – 2008 shaped up to be a banner year for Larken Associates’ commercial division despite economic concerns and Wall Street hardships.
Throughout the year, the Hillsborough, NJ-based developer signed leases totaling 230,000 square feet at its New Jersey and Pennsylvania professional, office, retail and industrial buildings, reports Victor Kelly, Vice President of Raider Realty, the exclusive broker for Larken Associates. The square footage includes new leases, renewals and office condominium sales.
“While 2008 unquestionably brought challenges to the commercial sector, we continue to sustain an aggressive and tenant –friendly approach,” says Mr. Kelly. “We are consistently identifying new market needs and trends and remain flexible to work with tenants and address their specific needs.
“Our high lease rate is a direct reflection of this strategy. We are also confident this approach will allow us to counteract unforeseen challenges in the coming year and maintain our success.”
Included in the leases were prominent national and regional businesses. Some of the most significant leases signed by Larken Associates in 2008 were:
• 28,254 square-feet of space leased to Linde Gas at Greenwich Commons, a two-story medical and professional office building located on Route 22 in Warren County’s Greenwich Township;
• The purchase of a 3,028 square-foot office condominium by Emmi & Emmi, P.C. at the Courtyard at Amwell, a “for-sale” or lease medical and professional office condominium complex located at 491 Amwell Road in Hillsborough, N.J.
• A lease renewal with Long Elegant Legs to occupy 13,500 square-feet at Hillsborough Business Center, a complex of managed office style/flex warehouse and distribution facilities in desirable Somerset County;
• A 2,000 square-foot lease with Popeye’s Chicken at Allentown Shopping Center, a 66,406 sq.-ft retail complex in Allentown, PA;
• And 6,611 square-feet leased to Systematic Financial at Branchburg Commons, a 15-building medical and professional office complex on Route 22 in Branchburg Township.
For further information on available space at one of Larken Associates’ commercial offerings, contact Victor Kelly or Robert Marek of Raider Realty at (908 ) 874-8686. Also, be sure to visit Larken’s web site at http://www.larkenassociates.com.
Based in Hillsborough, N.J., Larken Associates is one of the largest developers of office, professional and industrial complexes in central and western New Jersey and eastern Pennsylvania. The company currently owns and manages commercial projects totaling more than 1.5 million square feet.