Larken Associates, a leading developer, owner and manager of retail, medical and professional office and industrial space in NJ and PA, leased and renewed 500K square feet in 2012, most notably leasing more than 104K square feet to retailers—an increase of 15K square feet from 2011 which was already an impressive year.
“Our leasing report indicates some very exciting leasing trends,” said David Gardner, president and COO of Larken Associates. “New companies are coming in and our existing tenants are holding strong in their current spaces, or expanding into larger ones indicating that our economy has turned an important corner.”
Retail leases continued to shape up with companies like Anytime Fitness leasing almost 5,500 square feet at Maidencreek, PA and Staples renewing its 20K square foot store at the Tilghman Square Shopping Center in South Whitehall, PA. Smaller shops including A Cut Above in in Lawrenceville, NJ, Bagel Shack in Lopatcong, NJ and J&J Bloom Spa in Springfield, NJ all signed new leases in 2012.
Leases to professional and medical offices also remained strong with Princeton Allergy & Asthma renewing 8,000 square feet in Skillman, NJ, Construction Risk leasing almost 11,000 square feet in Branchburg, NJ, and Dynamic Engineering leasing more than 6,300 square feet in Chester, NJ. High profile brands, Bank of America and Merrill Lynch moved in at Raritan Commons in Flemington, NJ—two of eight leases signed at that location in the past 18 months.
Industrial leases also remained strong with Zala Machine leasing 6,250 square feet in Hillsborough in addition to its existing 9,375 square feet in the same location, and Fairway Green renewed its lease for more than 13K square feet at the Hillsborough Business Center in Hillsborough, NJ.
Family-owned Larken Associates has been building and managing commercial and residential real estate for nearly four decades, with a résumé that also includes building single family homes and building and managing residential condominiums, town homes, active adult communities and garden-style apartments.
For leasing information, call 908.874.8686 or log onto www.LarkenAssociates.com.
About Larken Associates
A two-generation, family-owned business since 1965, Larken Associates is widely-recognized as one of New Jersey’s fastest growing, well-respected companies. Based in Hillsborough, NJ, Larken has been responsible for developing prominent residential and commercial projects throughout the Tri-State area.