Signature Acquisitions negotiated 23,948 square feet of new, expanded and renewed office leases across its New Jersey portfolio during the third quarter, according to a Wednesday announcement from the Cranford-based firm. This activity continues a strong year of office leasing activity for Signature, which has seen roughly 100,000 square feet of leasing within its New Jersey office portfolio year-to-date.
Signature Acquisitions’ third-quarter leasing success is highlighted by three new leases at 25 Commerce Drive in the company’s Parkway Commerce Center, located directly off the Garden State Parkway at Exit 135 in Cranford. The New Jersey Institute for Pain Management executed a 6,279-square-foot lease for a new space at 25 Commerce Drive. Concurrently, NJIPR’s administrative arm, IPR Management, leased 5,691 square feet and will move its office to the building.
In addition, National Risk Managers, a full-service premium auditing and loss control company for workers’ compensation, general liability and garage auto policies, executed a new lease for 1,600 square feet at 25 Commerce Drive.
Lease renewals also added to the quarter’s strong activity. At 1055 Parsippany Blvd. in Parsippany, SafetyFirst, a driver safety firm focused on assisting fleets with procedures to reduce the likelihood of commercial vehicle collisions, renewed its 4,838-square-foot lease to remain in the building. 1055 Parsippany Boulevard is a premier 86,160-square-foot office building that boasts recent renovations, including upgrades to the immersive atrium lobby and a new on-site café with a MicroMart.
Two lease renewals in Parkway Commerce Center round out Signature Acquisitions’ third-quarter office leasing activity. At 100 Walnut Ave. in Clark, insurance industry leader Professional Group Plans renewed its 3,545-square-foot lease in the six-story building that features headquarters-quality office space, executive parking and high visibility from the Parkway.
Global Forwarding USA also renewed its 1,995-square foot lease at 14 Commerce Drive in the Parkway Commerce Center. Global Forwarding is a leading provider of trans-Pacific and trans-Atlantic freight services, by air and sea for all manner of cargo. All of Signature Acquisitions’ buildings within the Parkway Commerce Center offer access to first-class amenities just 25 miles from Midtown Manhattan at Exit 135 of the Garden State Parkway, with close proximity to Interstate 78 and the New Jersey Turnpike.
“Despite the somewhat sluggish office market, we are pleased to have achieved noteworthy leasing activity across our New Jersey office portfolio in the third quarter of 2023,” Sandy Monaghan, senior vice president and director of leasing at Signature Acquisitions, said. “We’re proud that Signature Acquisitions has continued our strong leasing momentum, and we remain confident that employers will continue to place value in well-located, quality office space that helps them succeed and prosper.”
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Author: Linda Lindner