Denholtz Associates, in Matawan, turned in a good first quarter of 2011 in commercial real estate leasing in New Jersey.
The real estate development company released a report Wednesday stating it had completed 71 commercial leases, totaling 250,743 square feet of space, in the state during the first three months of the year.
“This is a great start for 2011,” said Kristine B. Hurlbut, senior vice president of leasing. “We believe that capital improvement, marketing and reinvestment strategies initiated in 2010 are already starting to produce dividends.”
Highlighted transactions include a long-term lease extension for 55,457 square feet in Englewood Cliffs for H. Bauer Publishing and a 19,600-square feet lease for an Airsoft arena in Bound Brook.
“We are very encouraged by our first-quarter results, particularly the success we’ve seen in our New Jersey portfolio with increased activity and higher occupancy rates,” said Stephen Cassidy, president, in a statement. “We are seeing an active mix of new tenants in the marketplace hunting for space.”
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