"We're offering, for the first time ever, 140 Allen Rd. forlease in its entirety," says Steven M. Pozycki Jr., senior vicepresident of the Parsippany, NJ-based SJP Properties, which ownsthe building. His company is handling the offering in-house, and inthe wake of BEA's departure, SJP has undertaken a major renovationprogram. Upgrades include new HVAC units, enhanced landscaping andlighting, web-based building management systems and common areaupgrades.

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The three-story asset was built in 1985, and SJP acquired theformer Science Management Corp. headquarters in 1996. That dealtriggered an earlier round of renovations, and within two months ofthe sale, SJP had BEA Systems in the building with a long-termlease.

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"It's the only full building available for lease on the I-78corridor," Pozycki says. "The location has high visibility, and ithas direct access to major commuting highways."

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The property within the I-78 corridor is in Central New Jersey'sSomerset County. The 15-acre site also has the potential and isfully approved for a 36,000-square-foot, two-story expansion which,if completed, would bump the total space up close to 100,000 squarefeet.

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As offered, 140 Allen Rd. averages 20,000-square-footfloorplates with availabilities ranging upward from 18,000 squarefeet to the full building. It's currently listed without aspecified asking rent, but comparable availabilities nearby arevariously listed with asking prices from $24 to $27.50 per squarefoot.

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