Colliers Houston successfully closes transactions by going back to the basics and co-brokering deals
By Mel Fabrikant Tuesday, December 01, 2009, 08:40 PM EST
Colliers Houston & Co., a full-service commercial real estate firm providing strategic corporate real estate solutions to clients on a local and national level, is pleased to announce the recent completion of five industrial transactions, which are located within the Montville Business Center in Pine Brook, New Jersey and totaled 31,849 square feet. Colliers Houston's Howard Weinberg, senior vice president, SIOR, and Matthew Turse, senior associate, and Austin Godfrey, associate, have been spearheading the marketing efforts of these properties on behalf of the owner of the buildings, First Industrial Realty Trust.
"Despite the challenging economic environment, we have recently enjoyed some strong leasing activity at one of the properties that we are currently marketing - the 480,000-square-foot Montville Business Center - following the completion of five new industrial transactions," commented Howard Weinberg, senior vice president, SIOR at Colliers Houston. "These five industrial transactions, which were completed within the past 90 days, were co-brokered by some of the industry's most well-respected commercial real estate brokers, including Steven Beyda and Alex Previdi of Jones Lang LaSalle, Scott Kraft and Ron Kraft of Allied Realty, Irv Weiss of SBWE, Inc. and Lew Solomon, formerly with Jones Lang LaSalle but currently with Lee & Company. In addition, Colliers Houston also cooperated with Rick Vanderbeck, Regional Manager for First Industrial in these transactions."
More specifically, the following 5 transactions were completed within the Montville Business Center, a 480,000-square-foot, 6 industrial/flex/office building complex, which is owned by First Industrial Realty Trust and is located at 16-30 Chapin Road, 45 US Highway 46 and 30 Hook Mountain Road in Pine Brook, New Jersey:
Med Graphix signed a 6,128-square-foot long-term lease expansion at 30 Chapin Road, a 76,770-square-foot premier industrial/flex space that is situated just off of Route 46, with access to Routes 80 and 280. The tenant, which specializes in the repair of electronic equipment, successfully upgraded their location to this prestigious industrial park setting. Lew Solomon of Lee & Company (formerly with Jones Lang LaSalle) and Alex Previdi of Jones Lang LaSalle represented the tenant in this transaction, while Colliers Houston & Co. collaborated with First Industrial in the representation of the owner.
· Refine Technology, LLC signed a 6,123-square-foot lease agreement at 26 Chapin Road, a 76,497-square-foot premier industrial/flex space that is situated just off of Route 46, with access to Routes 80 and 280. The company, which produces cell separation and filtration systems for bio-pharmaceutical companies, will utilize the space as their U.S. headquarters. Irv Weiss of SBWE, Inc. represented the tenant in this transaction, while Colliers Houston & Co. collaborated with First Industrial in the representation of the owner.
· Canvas 4 Life, Inc. leased 5,328-square-feet of space at 30 Chapin Road. Canvas 4 Life, Inc., which digitally produces photos onto canvass, will be utilizing the space as its U.S. headquarters, the company's first location in United States. Ron Kraft and Scott Kraft of Allied Realty, represented the tenant in this transaction, while Colliers Houston & Co. collaborated with First Industrial in the representation of the owner.
· Unitek USA, Inc. leased 7,300-square-feet of space at 45 Route 46, an 84,284-square-foot industrial warehouse property that is located at exit 47 B off Interstate Route 80. Unitek, which provides storage and distribution services for eventual installation of DirectTV clients, plans on utilizing this space as a warehouse and storage facility. Steven Beyda of Jones Lang LaSalle, represented the tenant in this transaction, while Colliers Houston & Co. collaborated with First Industrial in the representation of the owner.
· PCR Technology expanded its operation at 26 Chapin Road and leased 6,970 square feet of space within this industrial/flex building. PCR engineers and manufactures components for the aerospace industry and plans on utilizing this space as their U.S. headquarters. Colliers Houston's Howard Weinberg, senior vice president, SIOR, and Matthew Turse, senior associate, and Austin Godfrey, associate, represented the tenant in this transaction, while Colliers Houston & Co. collaborated with First Industrial in the representation of the owner.
"By all accounts, the commercial real estate market continues to struggle on a national level, which is changing the ways in which lease transactions are being completed, particularly here in New Jersey," continued Weinberg. "However, at Colliers Houston & Co., we remain confident in the overall strength of New Jersey's office market, as we put to good use our company's platform and depth and breadth of services, as well as our brokers' unparalleled knowledge of the marketplace and our ability to leverage relationships with some of the industry's most well-respected and trusted brokers in order to lease up space in these difficult times. We are very pleased with our success at Montville, which would not have been possible without the help and dedication of the brokers that worked so diligently to complete these deals in such a timely fashion."
"Despite the challenging economic environment, we have recently enjoyed some strong leasing activity at one of the properties that we are currently marketing - the 480,000-square-foot Montville Business Center - following the completion of five new industrial transactions," commented Howard Weinberg, senior vice president, SIOR at Colliers Houston. "These five industrial transactions, which were completed within the past 90 days, were co-brokered by some of the industry's most well-respected commercial real estate brokers, including Steven Beyda and Alex Previdi of Jones Lang LaSalle, Scott Kraft and Ron Kraft of Allied Realty, Irv Weiss of SBWE, Inc. and Lew Solomon, formerly with Jones Lang LaSalle but currently with Lee & Company. In addition, Colliers Houston also cooperated with Rick Vanderbeck, Regional Manager for First Industrial in these transactions."
More specifically, the following 5 transactions were completed within the Montville Business Center, a 480,000-square-foot, 6 industrial/flex/office building complex, which is owned by First Industrial Realty Trust and is located at 16-30 Chapin Road, 45 US Highway 46 and 30 Hook Mountain Road in Pine Brook, New Jersey:
Med Graphix signed a 6,128-square-foot long-term lease expansion at 30 Chapin Road, a 76,770-square-foot premier industrial/flex space that is situated just off of Route 46, with access to Routes 80 and 280. The tenant, which specializes in the repair of electronic equipment, successfully upgraded their location to this prestigious industrial park setting. Lew Solomon of Lee & Company (formerly with Jones Lang LaSalle) and Alex Previdi of Jones Lang LaSalle represented the tenant in this transaction, while Colliers Houston & Co. collaborated with First Industrial in the representation of the owner.
· Refine Technology, LLC signed a 6,123-square-foot lease agreement at 26 Chapin Road, a 76,497-square-foot premier industrial/flex space that is situated just off of Route 46, with access to Routes 80 and 280. The company, which produces cell separation and filtration systems for bio-pharmaceutical companies, will utilize the space as their U.S. headquarters. Irv Weiss of SBWE, Inc. represented the tenant in this transaction, while Colliers Houston & Co. collaborated with First Industrial in the representation of the owner.
· Canvas 4 Life, Inc. leased 5,328-square-feet of space at 30 Chapin Road. Canvas 4 Life, Inc., which digitally produces photos onto canvass, will be utilizing the space as its U.S. headquarters, the company's first location in United States. Ron Kraft and Scott Kraft of Allied Realty, represented the tenant in this transaction, while Colliers Houston & Co. collaborated with First Industrial in the representation of the owner.
· Unitek USA, Inc. leased 7,300-square-feet of space at 45 Route 46, an 84,284-square-foot industrial warehouse property that is located at exit 47 B off Interstate Route 80. Unitek, which provides storage and distribution services for eventual installation of DirectTV clients, plans on utilizing this space as a warehouse and storage facility. Steven Beyda of Jones Lang LaSalle, represented the tenant in this transaction, while Colliers Houston & Co. collaborated with First Industrial in the representation of the owner.
· PCR Technology expanded its operation at 26 Chapin Road and leased 6,970 square feet of space within this industrial/flex building. PCR engineers and manufactures components for the aerospace industry and plans on utilizing this space as their U.S. headquarters. Colliers Houston's Howard Weinberg, senior vice president, SIOR, and Matthew Turse, senior associate, and Austin Godfrey, associate, represented the tenant in this transaction, while Colliers Houston & Co. collaborated with First Industrial in the representation of the owner.
"By all accounts, the commercial real estate market continues to struggle on a national level, which is changing the ways in which lease transactions are being completed, particularly here in New Jersey," continued Weinberg. "However, at Colliers Houston & Co., we remain confident in the overall strength of New Jersey's office market, as we put to good use our company's platform and depth and breadth of services, as well as our brokers' unparalleled knowledge of the marketplace and our ability to leverage relationships with some of the industry's most well-respected and trusted brokers in order to lease up space in these difficult times. We are very pleased with our success at Montville, which would not have been possible without the help and dedication of the brokers that worked so diligently to complete these deals in such a timely fashion."
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