Signature Acquisitions, a Cranford-based owner and manager of Class A suburban office space, has signed more than 55,000 square feet of new leases and renewals at a pair of properties, it announced Tuesday.
The company said it negotiated more than 44,000 square feet of new leases and renewals at Parkway Commerce Center, 25 Commerce Drive, Cranford. The property is an 820,000-square-foot campus in Cranford and Clark.
Those 13 transactions included new deals with Flipt LLC, U.S. General Services Administration, Reliant Fund Services, Hasselblad Inc., Fundigo and Garden State Mortgage. Topche & Co. and Krieger Worldwide expanded and extended their current leases. Care Alternatives, CrossCountry Mortgage, Funding U 123, Rhythm Medical and Gramercy Capital all renewed.
Cushman & Wakefield’s William O’Keefe, Charles Parmelli, Shawn Straka and Joe Ratner represented Signature Acquisitions in all of the deals.
Signature Acquisitions also negotiated more than 11,000 square feet of new leases at 100 Matawan Road in Matawan. That property is a 132,655-square-foot Class A building.
The two transactions included new leases with Office Evolution and Aylino.
JLL’s John Buckley and Erin Moran represented Signature Acquisitions on the deals.
“Significantly, eight of the 13 leases in Cranford were new leases or expansions of existing space, and both of the deals in Matawan were new leases,” Sandy Monaghan, senior vice president, director of leasing, at Signature Acquisitions, said in a prepared statement. “This is a positive trend over the recent past, when renewals were the dominant activity in the market. These new leases and expansions show a belief in business fundamentals and a strong level of confidence in the continued need for well-located, well-managed office spaces.
“Further, these 15 leases represent a wide diversity of business industries, which seems to suggest that business growth and office space demand is broadly based.”