Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(Read more on the industrial market.)

PISCATAWAY, NJ-Aroma Tech, a fragrance supplier, has signed a lease for 25,636 sf, amounting to nearly one-third of the 85,000-sf flex building at 140 Centennial Ave. here. The building is owned by Hampshire Partners Fund VI, a $235-million commingled real estate investment fund managed by the Morristown-based Hampshire Cos. CB Richard Ellis brokered the transaction, the terms of which were not released.

“We recognized a market need for high-tech office space in the technology-driven Central New Jersey marketplace and were able to deliver it,” says Norman A. Feinstein, Hampshire’s executive managing director, who notes that the once-vacant building recently underwent a renovation. That makeover involved the asset’s common areas, building systems and landscaping.

As reported by GlobeSt.com, Hampshire acquired the asset in late 2005 as part of a 378,000-sf, multi-building portfolio. The Hampshire-managed fund paid previous owner Blumenfeld Development Group $30.2 million for the seven-building portfolio, and in early 2006 gave CBRE the leasing/marketing exclusive for the properties.

The signing of Aroma Tech, which is based in Somerville, is the first deal signed after a broker open-house hosted by CBRE in May. Besides 140 Centennial Ave., that open house involved three other buildings acquired in the portfolio deal, the nearby 240 and 860 Centennial Ave., and 80 Kingsbridge Rd. CBRE remains the exclusive agent for the approximately 60,000 sf still available at 140 Centennial.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Fall 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.