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Kessel Assoc. announces leases at 29 Commerce Way.

Kessel Assoc. announces leases at 29 Commerce Way

Kessel Associates consummated several leases at its newly-completed 29 Commerce Way, bringing occupancy to more than 50 percent.

The 49,000-square-foot building is the fifth structure at the 47-acre Commercenter/Totowa business park. The first four high-tech modular buildings are close to 100 percent leased.

29 Commerce Way is designed for office, showroom, warehouse, and distribution use. The building features self-contained units from 5,600 square feet, tailgate loading, large bay areas, 20 foot ceilings, and sophisticated electronic systems for high-tech users.

The newest leases and brokers involved in transactions (if any) include: Hoffman-LaRoche, Inc., 5,600 square feet -- Edward S. Gordon Company of New Jersey, Inc.; Sandvik Process Systems, Inc., 15,700 square feet -- Tom Consiglio, Resource Realty, Fairfield; Showa Tool USA, Inc., 5,600 square feet, Dave Dobbs -- Resource Realty.

At the same property, Kessel consummated several leases at the park's only pure office building, 999 Riverview Drive. The newest tenant, H2M, is an engineering firm which leased 2,600 square feet for a regional office. The 56,790 square- foot-office building features a dramatic atrium lobby accentuated by a smoked glass exterior and office suites divisible to 1,650 square feet. Approximately 11,000 square feet remains available.

As a result of steady leasing activity at its hallmark project, the company broke ground at the sixth building in April, 20 Commerce Way. Expected to be finished by year-end, the building will contain 41,000 square feet with units from 4,600 square feet. It will feature aesthetic qualities such as oversized windows and extensively landscaped grounds as well as practical amenities like tailgate and drive-in loading, large bay areas, 20 foot ceiling heights, sophisticated electronic systems and abundant on-site parking. The company also upgraded the 77,000-square-foot Jolin Plaza in Fairfield, New Jersey, giving it a new name --Commercenter/Fairfield. Kessel added new landscaping, re-waterproofed the entire building, added new site lighting and erected a new sign reflecting the "Commercenter" name.

Located at 97-107 Fairfield Road near the intersection of Routes 46, 23, 80 and the Willowbrook Mall, the property has maintained 100 percent occupancy since its construction in 1981. Tenants include United Technologies Otis Elevator, Abbott Home Care Pharmacy, Marshall Electronics, A.V. Services Inc., Hallmark Electronics, Miyano Machinery USA and NiC Max Inc.

George Kessel Associates has been involved in more than 1 million square feet of commercial developments in northern New Jersey. The firm handles all aspects of development including site selection and acquisition, planning, construction, leasing and management of properties.
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Title Annotation:Mid-Year Review & Forecast Section IV
Publication:Real Estate Weekly
Date:Jun 26, 1991
Previous Article:Commercial builders back senior housing.
Next Article:Beth Israel Hosp. planning Dvorak House demolition.

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