Celebrating Another Year of Positive Commercial Growth at Larken Associates
Larken Associates celebrates another year of continued growth in commercial real estate development, leasing out nearly 500,000 sf (+/-) of prime mixed use real estate. The Branchburg, NJ-based developer and property manager closed approximately 350 transactions in 2017, a year marked with several exciting retail, professional office and medical office expansions and acquisitions.
Larken Associates is proud to announce the acquisition of Branchburg Centre, a two-story, 90,000 sf (+/-) Class B office building for lease in Somerset County, NJ. Renovations kicked off immediately with the addition of two entrance awnings, fresh landscaping and new signage. Interior renovations - remodeling the existing gym, restrooms conference room and cafe - are scheduled for the coming weeks. All this comes at the heels of big workspace expansions by tenants Kronos Saashr, a workforce management company, and NeWeb, a product design and manufacturing company. Only 14,000 sf (+/-) remains to be leased at Branchburg Centre.
Tenant fit-outs are underway for the third and final building at Raritan Valley Professional Center in Raritan, NJ. The three building, 82,000 sf (+/-) complex is conveniently located near the Somerville Circle and offers custom professional office, medical and dental space for lease. The final two-story, 14,000 sf (+/-) building is 50% pre-leased and occupancy is slated for spring of this year. The third building was designed after the existing Carriage House, a 17,000 sf (+/-) building that dates back to the early 1800s. The Carriage House was once owned by the late New Jersey Senator, Joseph S. Frelinghuysen Sr. It’s where President Warren G. Harding signed the Knox-Porter Resolution in 1921, effectively ending the United States’ involvement in World War I. In 2017, Somerset Pediatric Group signed a lease occupying 9,000 sf (+/-) at the Carriage House, leaving only one unit available for lease in that building at Raritan Valley Professional Center at just under 1,500 sf (+/-).
Tilghman Square Shopping Center, a 249,000 sf (+/-) power shopping center in South Whitehall, PA, has also expanded over the past year and offers retail space for rent. Larken Associates built a new 4,000 sf (+/-) outparcel housing three brand new tenants - Lehigh Valley’s first ever Duck Donuts, a T-Mobile store and All American Hearing. Other new tenants to Tilghman Square include VR3 Virtual Reality Gaming Center, leasing more than 3,000 sf (+/-) of space, and Young Chefs Academy, slated for a second quarter move-in. Tilghman Square has only two suites available for lease at 1,600 and 2,200 sf (+/-).
Larken Associates’ largest commercial property, Fairless Hills Towne Center, a 300,000 sf (+/-) grocery-anchored retail shopping center, added on an additional 45,000 sf (+/-) of commercial temperature controlled storage space for lease in 2017. It’s one of Larken Associates’ largest expansion projects of the year and has proven to be a huge success. Before the end of its first year in operation, Fairless Hills Self Storage is more than 75% leased. Fairless Hills Towne Center only has one suite remaining for lease at 3,886 sf (+/-).
Larken Associates is looking forward to another fantastic year of growth in 2018; come be a part of it! For commercial leasing information, call 908-874-8686 or visit www.LarkenAssociates.com.
About Larken Associates
A two-generation, family-owned business since 1965, Larken Associates is widely recognized as one of the region’s fastest growing and most well-respected real estate firms. Based in Branchburg, NJ, Larken is responsible for developing and managing prominent residential and commercial projects throughout New Jersey, New York and Eastern Pennsylvania.