After an active 2023 that saw over 160,000 square feet of new, expanded and renewed leases executed, Signature Acquisitions recently announced that the first quarter of 2024 started off strong. The Cranford-based owners/managers of Class A suburban office space negotiated 10 new, expanded and renewed office leases in eight buildings across its portfolio in the first quarter.
“We are pleased to see continued new leasing activity, along with several renewals and expansions, in our New Jersey office portfolio,” Sandy Monaghan, senior vice president and director of leasing at Signature Acquisitions, said. “Our success is driven by providing adaptable office spaces paired with a focus on tenant service that continually provides value to new and existing tenants. This operating philosophy continues to prove successful in this ever-changing office market.”
Despite the headwinds in the regional office market, Signature Acquisitions experienced strong activity across its expansive Clark and Cranford portfolio, which saw two new leases totaling 13,105 square feet, along with two lease renewal/expansions and three lease renewals. At 100 Walnut Ave. in Clark, Hellmann Worldwide Logistics, an international transportation logistics company headquartered in Germany, inked a new 7,607-square-foot lease. Also joining Signature Acquisitions in its Clark and Cranford office portfolio is Premier Mental and Behavioral Health, which leased 5,498 square feet at 25 Commerce Drive.
Signature Acquisitions also negotiated lease expansions at 25 Commerce Drive with financial services firms Fidelis Investors and Gramercy Capital. Conveniently located at Exit 136 of the Garden State Parkway, 25 Commerce Drive provides an ideal business environment in the heart of Union County. Situated in Parkway Commerce Center, this three-story, 67,749-square-foot property offers convenient access to area highways, in addition to a wealth of nearby amenities.
Priding itself on tenant retention, Signature Acquisitions secured three lease renewals in its Clark and Cranford portfolio. Significantly, Cali Futures Co., the successor company to the storied Cali Associates (later the Mack-Cali real estate investment trust) and the original developer of the Parkway Commerce Center office park in Cranford, will continue to manage its real estate holdings and investments from its office at 11 Commerce Drive.
At the landmark, high-visibility 20 Commerce Drive building in the Parkway Commerce Center, Union Home Mortgage renewed its lease. The accounting firm Weinstein and Spellman LLC renewed its lease at 14 Commerce Drive.
The firm also negotiated two renewals in Parsippany. Dole Fresh Fruit Co. renewed its lease at Waterview Plaza, a premier, Class A office property prominently located with frontage and visibility at the intersection of Interstates 80 and 287 along Route 46. Amenities at Waterview Plaza include fully renovated café service offering indoor and heated outdoor patio seating, free Wi-Fi, Starbucks coffee, breakfast and lunch options. Also in Parsippany, Anthony Magaro, a boutique financial services firm, renewed its lease at 1055 Parsippany Blvd.
Beyond New Jersey, the firm signed a new lease with James P. O’Day, CPA, at 888 Veterans Memorial Highway in Hauppauge, New York, part of a two-building, 270,000-square-foot office campus located in Suffolk County. The buildings’ striking, iconic architecture and unparalleled and executive-level amenities make this one of Long Island’s premier office campuses.
