Advance Realty Opens New Year with 100,000 Square Feet of Lease Deals at MiddleBrook Crossroads in Bridgewater, N.J.
Advance Realty, a leading Northeast U.S. owner and developer of Class A office properties and mixed-use developments, today announced that it has secured 100,600 square feet of lease renewals and extensions, and a new lease, in six different transactions at its MiddleBrook Crossroads industrial park in Bridgewater, N.J.
Leading the way was UPS, which signed a lease extension for 33,600 square feet at 11E Chimney Rock Road, followed by:
• Bridgewater Vehicle: 26,000-square-foot lease extension at 13E East Street
• Ferasco, a forensic investigation firm: 18,000-square-foot lease extension and expansion at 14E East Street
• Tritech Tool, a small tool distributor: 12,000-square-foot lease extension and expansion at 7E East Street
• Premier Hobby Distribution: 8,000-square-foot new lease at 7E East Street
• Albers, a fireplace company: 3,000-square-foot relocation to 1EA Chimney Rock Road from within MiddleBrook Crossroads
“In this challenging economy, securing this group of lease renewals and extensions, as well as a new one, further highlights the appeal of MiddleBrook Crossroads and Advance Realty as a property manager during a time when industry deal flow is sluggish,” said Brian Banaszynski, vice president of leasing for Advance Realty. “Five of these tenants have been in MiddleBrook Crossroads for years, and the sixth, Premier Hobby Distribution, chose 7E East Street due to its ideal location for the company to distribute its hobby supplies and materials. These deals also follow the ongoing trend of companies securing space in well-positioned assets that are close to major transportation corridors.”
Consisting of 20 single-story industrial buildings totaling approximately 800,000 square feet, MiddleBrook Crossroads is bordered by Route 22, I-287 and Route 28, with excellent access to I-78, Newark Liberty International Airport and Port Newark. The industrial park is also close to restaurants, banks and shopping.
About Advance Realty
Headquartered in Bedminster, N.J., Advance Realty is an owner and developer of office, mixed-use, flex, industrial, retail and multifamily properties. One of the company’s prominent projects includes the Riverbend District, a new, urban mixed-use district in Harrison, N.J., that will feature more than 800,000 square feet of retail space, several hotels, 1.5 million square feet of office space, and approximately 1,800 for sale and rental residential units.
Advance Realty is also in the process of developing and leasing The Picatinny Applied Research Campus (The PARC), a new, high-tech office/research park located at Picatinny Arsenal in Morris County, N.J. The PARC is a planned, multi-phase 1.1 million-square-foot development of one- to three-story build-to-suit and multi-tenanted buildings with labs, Class A office space, and multi-purpose flex space.
