The deal gives GlobeSpan exclusive occupancy of the building, which the company will use as its corporate headquarters. GlobeSpan, Inc. is a provider of advanced integrated circuits that enable broadband digital communications to homes and business enterprises. GlobeSpan was represented in the transaction by Geoff Schubert of CB Richard Ellis' New Jersey office, based in Paramus.

"The addition of GlobeSpan to our tenant roster here is great," according to Michael Alfieri, president of M. Alfieri Co. "It is a company that is helping to create the worldwide communications network for the future, and we feel that the environment at 100 Schulz Dr. will help them."

The Alfieri asset is located at Exit 109 of the Garden State Parkway in Monmouth County, in the east central portion of the Garden State. The Garden State Parkway corridor through the region is continuing to emerge as a high-tech belt, stretching down to the massive Garden State Hi-Tech Park, just under way to the south in Neptune Twp. Corporate neighbors in the region surrounding 100 Schulz Dr. include Lucent Technologies, which retains a massive presence despite its consolidation, as well as such financial firms as UBS PaineWebber, Hartford Insurance and Investors Insurance.

For its part, the 50-year-old Alfieri organization is involved in commercial real estate development, finance, architecture, construction, leasing and property management. The company has developed more than six million sf of class A office space, and currently maintains 1,000 acres of land for potential development in the Garden State. The company has long-term plans to develop upwards of eight million sf of corporate real estate on its land holdings.