GlobeSpan in 200,000-SF Build-to-Suit

In what is being described as the largest build-to-suit transaction in the Middlesex County office market in more than a year, GlobeSpan will make its new home at a 200,000-sf facility just off the Garden State Parkway in Laurence Harbor. The Schultz Organization, based in Woodbridge, NJ, did the deal for the Archon Group, owner of the parcel and developer of the site. Construction is expected to begin early next year. CB Richard Ellis represented GlobeSpan.

The firm is a digital subscriber line service company that provides integrated circuits, software and system designs to an international clientele. Some of the company’s engineers pioneered DSL technology at Bell Labs (now Lucent) back in 1987. Out of a staff of 525, 425 are engineers.

“Considering the type of business that this is, we hope this project will pave the way for other high-tech businesses to locate in the area,” says Barbara Cannon, Mayor of Old Bridge Township, the governing body for Laurence Harbor. The site is on the border of Middlesex and Monmouth counties about 35 miles south of New York City.

“Central New Jersey has become one of the strongest real estate markets in the country, and this project adds to the growing roster of high-tech companies in the region,” adds Harvey Schultz of the Schultz Org.

The GlobeSpan building will be located immediately adjacent to 100 Metropark South, a 130,000-sf, fully leased office building for which the Schultz Org. serves as exclusive leasing agent. Visible from Exit 120 of the Garden State Parkway, the structure was recently sold by Archon to an unnamed buyer in a transaction also arranged by Schultz.