Denholtz signs lease with Xela at recently acquired Markel building in Red Bank

By Emily Bader
Red Bank | Aug 21, 2019 at 3:00 am

Denholtz Properties announced Tuesday an office lease with Xela Communications, a telecommunications consultancy, in Red Bank.

The Red Bank-based commercial real estate firm said Xela leased 5,175 square feet at 322 Highway 35 South, part of a two-building office property recently acquired by Denholtz from Markel Services Inc., a wholly-owned subsidiary of Markel Corp.

The North and South Building’s, located at 310 and 322 Highway 35 South, respectively, are both three-story facilities with amenities such as a fitness center, cafeteria, tenant lounge and redundant backup power.

The deal with Xela will bring the North Building up to 90% occupancy, Denholtz said.

“Our recent acquisition of 310 and 322 Highway 35 South is another opportunity through which we’re continuing to solidify our roots and growing commitment to the borough of Red Bank,” Kristine B. Hurlbut, senior vice president of leasing at Denholtz Properties, said. “Red Bank, and by extension, Monmouth County are rapidly becoming one of New Jersey’s most-desirable submarkets, as evidenced by the many growing businesses such as Xela Communications that are looking to call the area home.”

Hurlbut represented Denholtz and Larry Dickstein of Dickstein Real Estate Services represented Xela Communications in the deal. Financial terms were not disclosed.

Emily Bader | ebader@roi-nj.com | emilybader