Mid Atlantic Real Estate Journal — New Jersey — December 6 - 19, 2013 — 13B
www.marejournal.com
N ew J ersey
Travaglini of Mack-Cali represented the landlord Studley brokers 28,000 s/f lease relocation/expansion
B
ASKING RIDGE, NJ — The New Jersey Property-Liability In-
surance Guaranty Association (NJPLIGA) has leased 28,000 s/f at 233 Mount Airy Rd., a classAoffice building located in the heart of Somerset County’s I-287 corridor. NJPLIGA, presently located nearby at 222 Mount Airy Rd., will expand by 8,000 s/f in a long-term lease with the building’s owner, Mack-Cali Realty Corporation . Studley managing director John “Jack” Feeney repre- sented NJPLIGA in the long- term transaction, while Rich- ard Travaglini , senior director of leasing at Mack-Cali Realty Corporation, represented the landlord in-house. n T h e G o l d s t e i n Group says big box leasingcomingback to New Jersey PARAMUS, NJ — The re- cent results of The Goldstein Group’s retail vacancy analy- sis reported over a half percent drop bringing the rate below 7.2%. One of the areas that helped contribute to that was the leasing by big box retail- ers throughout Northern and Central New Jersey. “The economy is improv- ing and several of the big box tenants found opportunities to enter the market or fur- ther penetrate,” said Chuck Lanyard , president of The Goldstein Group. “For example, Hobby Lobby, a client of The Goldstein Group, decided to enter the market within the last two years and has opened locations in South Plainfield and Marlboro. Now they are taking over a former Sports Authority in Lawrence Town- ship. Currently they are in negotiations for several other locations.” “We were able to lease a former Office Depot on Route 10 in Livingston to Big Lot’s, a former CompUSA to JoAnn Stores” added Lanyard. “Ad- ditionally, DSW Shoes, Bob’s Discount Furniture, TJ Maxx, Marshalls, Lowe’s and Shop Rite are examples of retailers who were able to take advan- tage of finding new locations. New construction is also coming back as BJ’s opened on Rt 1 in North Brunswick while construction is underway for Costco in North Brunswick. n
233 Mount Airy Rd.
Commercial • Industrial • Institutional Flat Roof Specialist Fully Licensed - Insured - Bonded 24 HOUR EMERGENCY REPAIR SERVICE
Rational Contracting, Inc. 3114 Tonnelle Ave., North Bergen, NJ 07047 Easily reach us at: (201) 863-7400 Phone (201) 863-7499 Fax (800) 917-6237 Toll Free Email: bestroof@rationalcontracting.com www.RationalContracting.com
Made with FlippingBook - Online Brochure Maker