Matawan, N.J. (January 17, 2017) – Denholtz Associates reports strong leasing activity throughout 2016, totaling 1,019,642-square-feet of new and renewal lease transactions. Denholtz Associates executed 161 lease transactions totaling 706,383-square-feet for its properties in New Jersey and inked 39 leases for 251,963-square-feet in Florida.
“2015 saw us pursue many exciting opportunities and investments that allowed us to showcase our expertise in many areas including acquisitions, ground-up construction and adaptive reuse. We picked up right where we left off to continue this trend into 2016 where we broke the million-square foot leasing milestone, closing well over 200 transactions throughout the year. The hard work and dedication of our experienced finance, leasing, and property management teams allowed us to leverage our full suite of capabilities resulting in another impressive year,” said Steven Denholtz, CEO of Denholtz Associates. “Our continued success is proof of our property management experience and our ability to add value to underperforming assets and create debt opportunities in high-quality, targeted locations which reduce risk and increases profit. 2017 looks to be another strong year as we build on the successes of 2016 and we grow our business in our home state of New Jersey while also continuing to continue to find opportunities in the exciting Florida submarkets of Orlando and Tampa.”
Notable lease transactions from 2016 include:
- Times Publishing Company leased 110,000-square-feet at the newly acquired 490 First Avenue Building in St. Petersburg, Florida.
- Kutztown Publishing Company leased 16,935-square-feet at 7036 Snowdrift Road in Upper Macungie, Pennsylvania.
- Fujitsu General America renewed their lease of 27,829-square-feet and added 3,750-square-feet of additional space at the Fairfield Business Center in Fairfield, New Jersey.
- Prestige Millwork leased 24,006-square-feet at the Bridgewater Business Park at 27E Kearney Street in Bridgewater, New Jersey.
- Retro Fitness renewed their lease of 13,868-square-feet at 225 Terminal Avenue and KinderCare renewed their lease of 13,464-square-feet at the 89 Terminal Avenue location in the Clark Commercial Center in Clark, New Jersey.
- V-Squared Associates, Inc. leased 16,468-square-feet at 2 Executive Drive, Somerset, New Jersey.
- Polonica Inc. leased 19,358-square-feet at 147 Ethel Road West in Piscataway, New Jersey.
“Our multi-tenant diversification strategy ensures that our properties consistently maintain high occupancy rates,” said Kristine B. Hurlbut, Senior Vice President of Leasing at Denholtz Associates. “Our dedicated property management and leasing team ensure that tenants’ needs are consistently met helping us to maintain low vacancy rates across our portfolio.”
