Larken Associates, a regional player in real estate building, development and management, said June 17 that it completed the full lease-up of Flemington Junction Business Center II, a 50,000-square-foot warehouse building at 20 Minneakoning Road in Flemington.
Flemington Junction Business Center II is a multi-tenant industrial property located near Route 31 and close to routes 22 and 202, as well as Interstate 78. The building features 32-foot clear ceiling heights, 41-foot-by-50-foot column spacing, 15 loading dock doors with levelers, two drive-in doors, heavy power capacity and floor load, and LED motion-sensor lighting. The property also has many parking spaces with two dual EV charging stations. The project began in July 2024. The company did not disclose financial details.
“Our success with Flemington Junction Business Center II illustrates the continued demand for flexible, Class-A industrial space with access to major markets like New York City and Philadelphia,” said Rob Marek, executive vice president, commercial division, at Larken Associates.
The Larken lease-up is welcome news for an industrial sector that got off to a rough start in 2025. Cushman and Wakefield reported in April that first-quarter new construction activity decelerated, with completions falling to the lowest level since 2010 at just 517,288 square feet. The real estate information provider said that despite that decline, pre-leasing activity rose to 63.6% as developers shifted their focus toward build-to-suit projects over speculative developments. This shift positions the market for potential occupancy gains in the latter half of 2025, according to Cushman and Wakefield.
Flemington Junction Business Center II adds to Larken Associates’ central New Jersey industrial/flex portfolio, which the company says spans nearly 1 million square feet. The portfolio includes Flemington Junction Business Center I, a four-building, 150,000-square-foot complex in Flemington, and Hillsborough Business Center, a 27-building, 596,135-square-foot complex in Hillsborough.
