Signature Acquisitions on Wednesday said it recently completed over 29,000 square feet of office leases over the past three months in its Garden State Parkway portfolio.
The transactions total over 20,000 square feet of new office leases and renewals at Parkway Commerce Center in Cranford and Clark and over 8,000 square feet of new leases, renewals and expansions at 100 Matawan Road in Matawan. These Class A office buildings located off the Garden State Parkway offer easy access to all of New Jersey and on-site property management and ownership.
An 8,774-square-foot lease at 100 Walnut Ave. with Loop Capital, a client-focused investment banking, brokerage and advisory firm, was the largest of four new leases at Parkway Commerce Center, an eight-building office campus spanning 820,000 square feet. In addition to the deal with Loop Capital, other new leases within the campus include Logicfold for 2,563 square feet, Indigo Risk for 1,741 square feet and M&D Capital NY for 1,330 square feet. Additionally, Allstate and Bayada Health renewed their leases for 3,734 and 2,704 square feet, respectively.
Further down the Garden State Parkway, one new lease for 1,566 square feet was completed with Joseph Sanzari, one of New Jersey’s most successful highway and heavy construction firms, at 100 Matawan Road. 100 Matawan Road is a recently renovated 132,655-square-foot Class A office building that sits on 5.17 acres, offering proximity to the Matawan Train Station as well as Routes 1, 9, and 448 and Interstate 287, as well as a prominent location in view of the Garden State Parkway at Exit 120. Additionally, one renewal and expansion for 7,135 square feet was completed with Otteau Group, a nationally known real estate advisory and valuation firm.
“Deciding to commit to office space in 2022 has many additional layers compared to years past,” Jeffrey Otteau said, managing partner and chief economist for the Otteau Group. “The emergence of hybrid work schedules, coupled with the workforce’s changing expectations, make it critical that offices evolve to inspire our employees and promote collaboration. Signature Acquisitions has always done a tremendous job of evolving their spaces to meet the changing demands of workers today and we are excited to be able to continue to grow in one of their spaces.”
Sandy Monaghan, senior vice president, director of leasing at Signature Acquisitions, continued: “As businesses continue to adjust to the evolving wants and needs of their workforces, we see a corresponding increase in demand for Class A office space across our portfolio. Our continued success in retaining current tenants and attracting new tenants speaks to our immense confidence in our portfolio’s ability to fulfill the desires of the workforce and provide businesses with a first-rate corporate environment to call home.”