Most of that 36,000-sf total involves a headquarters relocationby Theradex, which took 27,260 sf and will move in from anotherlocation in the submarket. Theradex is an international contractresearch organization involved in the development of pharmaceuticalcompounds and medical devices, with a focus on oncology.

|

"Theradex was able to capitalize on market conditions relativeto this particular property," says NKF managing principal ThomasRomano. "This relocation will provide our client with a highlyvisible location on Route One with appropriate signage, an overallupgrade of its headquarters operation and increasedefficiencies."

|

Most of Theradex's new space, 21,728 sf, involves the entirethird floor of the building. The remaining 5,532 sf is on thebuilding's first floor.

|

NKF's Brian Rushing represented the other three new tenants, ledby MGA Careers, a career management firm, which took 3,800 sf. MGAis similarly relocating, moving a regional office from anothernearby site. And Altech Star, an IT company, signed on for 2,400sf, while Catalyst Systems, a software/hardware company, took 2,100sf.

|

The four leases have brought the recently upgraded building,which was built in 1986, to 95% occupancy. Terms of the varioussignings were not released; the space had been listed with anasking price of $20 per sf plus tenant electric, and the block ofspace still available is listed with those terms.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.