To accommodate H-P, the property owners had to vacate two existing tenants and recapture excess space from a third in order to assemble the entire third floor of the building, according to HKT's Peter Hekemian. The lease brings the building's occupancy to 100%, with H-P is expected to take occupancy in July.
HKT, based here, has had a recent focus on urban redevelopment, with New Jersey projects in Princeton, Westfield, Englewood, Hackensack, among others. The company has a current development pipeline of 1,300 residential units, 125,000 sf of retail and 600,000 sf of office space.
The Woodbridge, NJ-based Bergman Real Estate Group has a current New Jersey portfolio of 15 properties totaling 1.3 million sf of office space.
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