A partnership between Advance Realty and Camber Real Estate Partners jointly announced that they have entered into agreements with two new tenants at their industrial facility in Pine Brook.
The four-building, 529,100-square-foot light industrial facility located at 19 Chapin Road is situated off Route 46 and Interstate 80.
The two companies will lease a combined 55,000 square feet. Both were drawn to the property due to its location, as well as the campus’ industrial space which can be easily customized.
The pair are currently repositioning the property, which was acquired in November 2017. They plan to covert office spaces to light industrial use spaces.
“These two large leases are indicative of the significant progress we have made at 19 Chapin Road since acquiring it last year, and the tremendous interest we continue to receive from prospective tenants,” said Peter J. Cocoziello, CEO and president of Advance Realty. “The strong demand for industrial space in this region and the desirability of this property have allowed us reach agreements for 55,000 square feet of space in just four months, and we look forward to welcoming other businesses into the small amount of space still available.”
Andrew Siemsen and Jason Goldman of Cushman & Wakefield represented Camber and Advanced in the lease transactions.
“We acquired 19 Chapin Road knowing that it would be attractive to a wide range of global and national companies, and our robust leasing activity is a testament to its appeal,” said Dave C. Surti, principal of Camber Real Estate Partners. “Whether a business is seeking state-of-the-art flex space or a facility that will allow them to manufacture and distribute products across the country, this property continues to establish its place among the premier light industrial assets in the region.”
