SOMERSET, NJ-Five leases have taken over 124,545 sf of space off the market at the 852,400-sf Atrium Corporate Park, close to 15% of the park. Terms of the leases were not disclosed. All five were signed in the first months of this year, with three coming in the past month and a half.

The largest of the five is with Hanover Insurance, which signed for 46,229 sf at 400 Atrium Dr. CB Richard Ellis and GVA Williams of New Jersey co-brokered the deal for the tenant. The Jones Lang LaSalle team of Susan Mason, senior vice president, Thomas Reilly, executive vice president, and Brian Cass, leasing specialist, represented Atrium owner LaSalle Investment Management, in this and the other four leases.

The other four leases are all for 300 Atrium Dr. Turner Construction has taken 30,000 sf, in a deal reported in April. Turner is relocating its New Jersey regional office from a nearby site, and was represented by Cushman & Wakefield. JLL account manager Pedro Coto assisted the JLL team on the ownership’s side.

PHF Somerset Inc. has taken 20,741 sf, with JLL representing tenant as well as ownership. Alfacell Corp. has taken 15,410 sf, with Real Estate Strategies representing the tenant. CompuPay Inc. has taken 12,165 sf, with Studley representing the tenant.The I-287 corridor is plagued by high vacancy rates, so these five tenants had other nearby office complexes to consider. “This corporate park offers the best quality product and value in the submarket with an exceptional amenity base and prestigious tenant roster,” Mason says. “The ownership is committed to providing exemplary service to its tenants.”

Reilly calls Atrium the most active office park in Somerset County. “We have experienced this due to a host of factors but most notably the extraordinary value proposition tenants are offered.”

700 Atrium Dr. in the complex remains vacant, since Merck moved out of it. JLL is hoping to house a single user there, since despite high vacancy levels there are few large blocks of space available in New Jersey.

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