SVP Scott Perkins of NAI James E. Hanson

PARSIPPANY, NJ—Morre-tec, a specialty chemical manufacturer and distribution firm, has signed a lease for 20,000 square feet of industrial/flex space at 181 E. Halsey Road here.

The Union, NJ-based company is a manufacturer and distributor of Bromine Compounds, specialty chemicals, and other products for the nutritional, food, personal care and biotech industries, as well as specialty adhesives. The lease deal was announced by NAI James E. Hanson. The commercial brokerage firm's Scott Perkins, SIOR, CCIM, and LJ Koch represented the landlord, Jofra Realty, in the transaction.

Morre-tec's lease at 181 E. Halsey Road will provide additional space for the selected storage and processing of compounds in conformance with food grade product requirements, NAI James E. Hanson states.

Situated less than a mile from the intersection of Interstates 80 and 287, the Morris County industrial/flex property totals 69,315-square feet. Morre-tec's new space includes 956 square feet of office space, 23-foot-high ceilings and two tailgates.

"Although Morris County boasts exceptional accessibility and highly favorable demographics, the county's industrial supply is well below that of the markets to the east. While that can make the market challenging for tenants searching for space, it provides many benefits to landlords like Jofra Realty," says NAI James E. Hanson's Perkins.

"With only 38,603,715 square feet of rentable industrial building area, the Morris County industrial market remains one of northern New Jersey's smallest. Only projected to add 25,000 square feet of new industrial space over the next several quarters, the market will continue to remain one of the region's smallest," says Kristen Jost, research analyst for NAI James E. Hanson.

She adds, "Unfortunately for tenants and fortunately for landlords, the small size of the market and the continued westward migration of industrial tenants will continue to drive vacancy rates lower and rental rates higher over the next several quarters."

Instant Insights /

Specialty Chemical Manufacturer Expands Operations in Parsippany

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