Building owner Normandy Real Estate Partners acquired the then-vacant class A building last fall from Conexant Systems for a reported $23.5 million. It was originally intended to be the headquarters of GlobeSpan Virata, a communications products company that was acquired by rival Conexant before the building was completed in 2002.

"The building profiled the type of real estate that they have been acquiring throughout the state," Geoffrey Schubert of CB Richard Ellis, who was involved in both the acquisition and the subsequent Health Net lease.

"It presented us with an entrée to a market that is in the path of growth," says David Welsh, who with Finn Wentworth founded the Morristown, NJ-based Normandy in 2002. "It is the newest office building in Monmouth County, and with 160,000 sf currently unoccupied, it provides the county's largest block of contiguous, available class A space."

And Normandy has just launched "an aggressive effort" to fill that space, according to Patrick Eichner, the firm's director of leasing. He tells GlobeSt.com, "and we expect a lot of interest in it."