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BRIDGEWATER, NJ-Lenders might still be leery of laying out the cash for spec space, but the trend is that whenever a decent-sized piece of spec space does hit the market, it usually doesn’t stay there for very long. As an example, Advance Realty Group, based in Bedminster, NJ, recently completed Advance at Bridgewater III, an 80,000-sf class A building, and eResearch Technology quickly snapped up almost 31,000 sf of that total. The software development company will use the facility as its regional headquarters.

Jim Postell and Dave Sherman of Insignia/ESG, Saddle Brook, represented the tenant. Frank Pratt, Advance’s vice president of marketing, was the in-house leasing rep for the owner.

Advance at Bridgewater now consists of four class A office buildings totaling 315,000 sf. Key tenants include Lucent Technologies, DSET, Ariba Inc., and the headquarters of United National Bank. Advance is about ready to break ground on the fifth and last structure in the development, a 96,000-sf class A building.

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