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EDISON, NJ-Chemical giant BASF renewed its lease for 265,000 sf of warehouse space at 300 Raritan Center Parkway within the sprawling Raritan Center business park. The occupancy represents about 70% of the approximately 375,000-sf building.

In the transaction, BASF was represented by Mark D. Siegler, executive vice president, and Thomas F. Monahan, senior vice president, of Colliers Houston & Co. Landlord Federal Business Centers, which has its headquarters in the building, was represented in-house by Anthony Rispoli. The deal projects to an annual rental of more than $1.3 million, according to a spokesman, which factors out to a per-sf rent in the $5 range.

The larger Raritan Center complex, under multiple ownership, encompasses a total of some 2,350 acres occupied by approximately 13 million sf of mixed building space. The German-based BASF, meanwhile, has its North American headquarters to the north in Florham Park, having recently relocated there from Mt. Olive.

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