Real Estate Journal — New Jersey — February 13 - 26, 2015 — 9B
M id A tlantic
C entral N ew J ersey Industrial education provider leases entire building to open workforce education center JLL inks 55,000 s/f lease for Festo Didactic at 607 Industrial Way West in Eatontown, NJ E ATONTOWN, NJ — JLL has completed a full-building transac- property from building owner The Donato Group .
Economic Development Au- thority approved an incentives package for Festo Didactic if the firm chose to keep its new partner in New Jersey. We were able to complete the transaction quickly, begin- ning negotiations with The Donato Group for the tenant in May and signing the lease in August.” Festo Didactic leased 607 Industrial Way West for five years. At the site, the indus- trial education equipment and solution provider recently opened the Festo Didactic Center for Education and
Training for Advanced Tech- nologies, a high-tech training lab focusing on the country’s manufacturing industry. The workforce education center will ensure that employees are qualified for highly sophisti- cated manufacturing work. It will also provide courses and seminars for students and teachers. In addition to completing the lease transaction, JLL’s Project and Development Services group, led by Bryan Van Ost , senior project man- ager, and Patrick Lubin , project coordinator, oversaw
the renovations that Festo Didactic required prior to relo- cating to the facility. The team faced a tight timeline to com- plete the work, as the tenant planned to begin operations at the facility in November 2014. The PDS group later super- vised the tenant’s relocation to 607 Industrial Way West. The single-story 607 In- dustrial Way West was con- structed in 1964 and acquired by The Donato Group in 2009. The office building is located near Exit 13A on Rte. 18 in Eatontown and Exit 105 on the Garden State Parkway. n
The tenant was represented by John Buckley and Chris Conklin , vice presidents, and Jon Compitello , senior asso- ciate, all with JLL. The build- ing owner was represented in-house by Corbett Donato , principal. “Festo Didactic had ac- quired New Jersey-based Lab-Volt and was considering a number of options, including consolidating the firm into its Hauppauge, NY, head- quarters,” said Buckley. “The tipping point came when the
tion for Festo Didactic at 607 Industrial Way West in Eatontown. The industrial education equipment and so- lution provider leased the entire 55,000 s/f, class A office
Onyx Equities enters 2015 full steam ahead
WOODBRIDGE, NJ — Capping a year in which Onyx Equities ’ portfolio of owned and managed properties con- ducted nearly 850,000 s/f of leasing activity, the company today reported that it leased more that 260,000 s/f in the fourth quarter alone. “Our capital intensive pro- gram reflects our belief that, in order to compete, we need to pay close attention to what to- day’s tenants need, including equipment, layouts, design, in- frastructure and atmosphere,” said Adam Karafiol , senior vice president of leasing for Onyx Equities. “We’ve taken an older stock of buildings and updated these assets into properties that offer every- thing a high-caliber tenant looks for.” Some of the noteworthy transactions that Onyx com- pleted during the fourth quar- ter include: •The renewal of telecom- munications giant, Avaya, (61,600 s/f) at 211 Mount Airy Rd. in Basking Ridge, New Jersey. The 282,000 s/f, class- A office building is located less than one-quarter mile from Rte. 287. NGKF represented Avaya in this transaction. •Sony Music Entertain- ment’s expansion by 14,000 s/f at the 600,000 s/f Meadows Office Complex, 301 Rte. 17 North in Rutherford, New Jersey. JLL represented Sony Music in this transaction. •The renewal of Origin Healthcare’s lease (24,754 s/f), also at 301 Rte. 17 North. Col- liers represented the Origin Healthcare in this transaction. •A new lease with UBS for 14,973 s/f at One Jericho Plaza, in Jericho, New York. The global financial services company moved its financial advisor operations to the iconic 640,000 s/f building in order to take advantage of its con- venient location adjacent to the Long Island Expressway (LIE). n
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