NAI James E. Hanson, a Teterboro-based real estate firm, announced on Thursday it has negotiated a lease renewal for United Business Environments in East Rutherford.
UBE will be taking up 26,486 square feet at 125 Asia Place, a 52,192-square-foot industrial property.
NAI Hanson’s Scott Perkins, Ken Lundberg, Chris Todd and Pat Lennon and JLL‘s Michael Palmeri, represented the tenant in the deal with Prologis.
“Although the pandemic and economic fallout has placed pressure on most of the commercial real estate industry, northern New Jersey’s industrial sector continues to remain strong with robust leasing activity within the market’s limited available space,” Perkins said.
The property is within close access to routes 3 and 17, the Garden State Parkway and Interstate 80. It offers 16-foot ceilings, four loading docks and one drive-in.
“While there is deep interest from new companies looking to operate in the market, we are continuing to see high renewal activity from businesses like United Business Environments hoping to ensure they can capitalize on the market’s value proposition over the long-term,” he said.
