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I spy a super-tech space at The PARC.

A high-tech company that works with government agencies and the intelligence community has signed a lease at The Picatinny Applied Research Campus (PARC) in Morris County, NJ.

PARC is a public-private partnership between Advance Realty, a major Northeast U.S. owner and developer of properties, and InSitech, a partnership Intermediary representing the business interests of armaments research, development and engineering companies.

EOIR Technologies has signed a lease for 2,715 s/f of The PARC's flex building--a 27,500 s/f single-story site at a high-tech office/research park located at Picatinny Arsenal.

The space will serve as EOIR Technologies' new field office location and support its work with the U.S. Army's Night Vision and Electronic Sensors Directorate (NVESD).

Advance Realty managing director Brian Banaszynski represented the landlord in the transaction, while CBRE first vice president Randy L. Eigen negotiated on behalf of the tenant.

"EOIR Technologies is precisely the type of premier tenant Advance had hoped to attract to The PARC, and this addition will greatly enhance the site's dynamic work environment," Banaszynski said.

"Government contractors, in particular, appreciate The PARC's independently designed office units and the unique opportunity to gain direct access to all that the base has to offer."

The flex building is part of The PARC's initial development phase that will feature approximately 100,000 square feet of office/lab space within Picatinny's downtown area.

Future plans for The PARC include additional development of one- to three-story build-to-suit and multi-tenanted buildings with labs, Class A office space and multipurpose flex space for high tech, defense and academic tenants and users.

Currently, the base has $1.5 billion of high technology equipment, extensive high-tech laboratory space, thousands of on-site scientists, research development and engineering personnel. In addition, tenants of The PARC will also have access to the amenities of Picatinny Arsenal, which include food services, recreational fields and an 18-hole golf course.
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Comment:I spy a super-tech space at The PARC.
Publication:Real Estate Weekly
Date:Mar 14, 2012
Words:316
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