Summit Associates, the locally based property owner and one of the landlords within multi-owner Raritan Center, is set to launch construction of the facility, which will rise on a five-acre site. Matthew Seltzer of Cushman & Wakefield of New Jersey Inc. arranged the deal on behalf of the cosmetic products formulator and manufacturer. Summit Associates was represented in-house. The terms of the signing and the price tag for the new facility were not disclosed.
For Bentley Labs, which makes a variety of skin care, hair care, fragrance and related liquid-fill products, as well as over-the-counter drug products, the move is an expansion. The company will move its headquarters to Raritan Center from its current location at 200 Corporate Dr. in Mahwah.
The new facility will encompass a combination of administrative offices for the company, as well as laboratories, production and warehouse space, according to Brian T. Fitzpatrick, Bentley Labs' president and chief executive officer. "We plan to occupy the new space in the first quarter of 2006," according to Fitzpatrick.
"The Middlesex County market offers great real estate fundamentals, including transportation infrastructure and labor pool," Seltzer says. "These factors have contributed to a low 4.7% vacancy rate in the industrial market, as well as to extraordinary demand for space."
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