A total of 25,000 square feet of industrial/lab square in Somerset has been leased to a licensed drug distribution wholesaler and a home textile firm, according to a Monday announcement from Bussel Realty Corp., which facilitated the transactions.
Advanced CTS Corp. leased Units 1 and 2 at 72 Veronica Ave., totaling 10,000 square feet, and H.N. International Group leased Units 3 to 5, totaling 15,000 square feet inside the 50,000-square-foot industrial/flex building.
Gregory Irving, executive vice president and partner, and Anthony Mircovich, vice president, of BRC represented the landlord, Veronica Development Associates, in the transactions. Advance CTS Corp. was represented by JLL and H.N. International Group was represented by NAI DiLeo-Bram. Currently, BRC is marketing the remaining 25,000 square feet available at the property.
“Veronica Development Associates has had the pleasure of working with Greg Irving and Tony Mircovich of Bussel Realty with the listing of a 50,000-square-foot commercial building located at 72 Veronica Ave. in Franklin Township,” said Michael Ventura, managing member of VDA. “VDA’s prior tenant was a manufacturer of pharmaceutical products who terminated their business operations, leaving behind a complex 50,000-square-foot office, laboratory, manufacturing and distribution facility, with vast improvements. Through Greg and Tony’s tireless efforts and guidance, VDA now has two high-quality tenants occupying 25,000 square feet, and several prospects for the remaining 25,000 square feet of space.”
Advanced CTS Corp. will utilize the space for its registered drug distribution and clinical research. H.N. International Group will operate the space for its wholesale home textiles operations.
“We are pleased to have worked with these new tenants and our owner, Veronica Development, in finding the optimal real estate solution for them at the property,” noted Irving. “72 Veronica provides significant backup systems, power and climate-controlled space ideal for a variety of industrial or lab uses.”
72 Veronica Ave. is part of Franklin Technical Center, a complex consisting of two 50,000-square-foot buildings located between Princeton and Rutgers universities in Franklin Township. The buildings are zoned medium industrial, with the majority of the space used by life sciences and technology firms.
