Larken Associates has leased and renewed more than 425,000 s/f in 2011, most notably leasing over 89,000 s/f to retailers, leaving one optimistic that an economic recovery is well in progress.
"Our ability to evaluate the market conditions and provide space based on where a company's core constituency may be vs. just providing what's available has helped us develop meaningful relationships with our tenants—new and seasoned," said David Gardner, president and COO of Larken Associates. "The fact that we have tenants that have been with us for 10, 20, sometimes 30 years is a testament to our commitment to their business needs and our shared core values."
Retail leases were the real feather in Larken's cap in 2011, with highlights including new leases to well-known brands, Verizon in Echo Shopping Center in Sprinfield, Pizza Hut in the Shoppes at Woods Tavern in Hillsborough, and Subway in the Maidencreek Shopping Center in Blandon, PA. Local shops including Eden Organic Market, and Bloom Nails and Spa, both in the Echo Shopping Center in Springfield, as well as Lenny's Pizza & Pasta in the Kingsbridge Center in Hillsborough also hung 'Open for Business' signs.
Leases to professional and medical offices also remained strong with Saint Clare's Hospital renewing more than 17K square feet at Parsippany Commons in Parsippany and THS Company newly leasing nearly 6.5K square feet at Raritan Commons in Flemington.
Another indication that the market is improving are the expansion of Hu-Lift Equipment's space to nearly 8K square feet and Primus Green Energy expanding to 34K square feet of industrial/warehouse space 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. Tags: