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PHILLIPSBURG, NJ-The Garibaldi Group, based in Chatham, picked up the exclusive marketing and leasing assignment for Walters Park Business Center here. The asset, which encompasses just over 300,000 sf of space in three buildings at 224 Stockton St., is owned by Walters Park LLC, a local partnership group.

For Garibaldi, Michael Bartolacci, vice president, and sales associate Dan Gardner are heading the effort to fill the 250,000 sf of space that is currently vacant and available. The duo is based in the company’s Bethlehem, PA office.

“This facility can accommodate a wide range of uses, including office, flex, warehouse and light manufacturing,” according to Bartolacci. “The fit-out of the facility also makes it a possible showroom and retail location.”

Walters Park Business Center is currently undergoing extensive renovations. Parts of the complex are already complete and are ready for occupancy at what Bartolacci terms “attractive lease rates and with flexible terms.”

The property, which is located near Route 22 and I-78, is also within a designated urban enterprise zone. Incentives to businesses within the zone include a 50% reduction of the New Jersey sales tax, from 6% to 3%, on in-person purchases. Others include sales tax exemptions, subsidized employment insurance costs for new employees, a tax credit of 8% on investment within the UEZ by an approved “in lieu” agreement, and priority for financial assistance from several state-level programs.

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