CBRE completes two leases

Celldex Therapeutics is leasing new space in New Jersey.

A pair of wildly different businesses have recently agreed to lease space from CBRE Group, New Jersey's largest commercial real estate firm.

A growing life sciences firm, Celldex Therapeutics, signed a lease for more than 33,000 square feet of space in a relocation and expansion. The firm, which develops new diagnostics and therapeutic products for immune disorders and autoimmune diseases, moves from Phillipsburg, N.J, to the Peryville Corporate Park in Hampton, N.J.

The move gives Celldex Therapeutics an additional 13,000 square feet from their previous headquarters.

"This relocation and expansion is another typical flight-to-quality opportunity and speaks volumes about the high value of the space and amenities available at Perryville," said CBRE senior associate John Goodwin. "Celldex leased the largest block of contiguous space remaining in the building, which brings the occupancy to 81.5 percent."

The Perryville property provides a laboratory and will also be home to the company's executive offices. The facility is highlighted by a full-service cafeteria, conferencing facility, fitness center, basketball court, two tennis courts and jogging trails.

Lease No. 2 for CBRE
The second lease comes from Residential Home Mortgage Corporation , which will occupy 10,981 square feet in Perryville. Residential Home Mortgage Corporation first moved to Perryville in 2010 and is expanding from its 6,500 square feet of space.

"These leases are indicative of the interest we are seeing from companies looking for space or expanding space within the Route 78 west submarket," said Patricia Riedel, a CBRE senior associate.

"Quality office buildings like Perryville III offer tenants a corporate image at affordable rental rates."

Riedel and Goodwin represented the owner, Crown Properties, in both cases.

"We're continuing to see a surge from relocating companies seeking affordable, high-quality and accessible office solutions," said Alexandra Rad, Crown Properties' managing partner. "We're so pleased to welcome our new tenant and to have the ability to continue our relationship with existing occupants."

Crown Properties recently finished off a building with diverse capabilities. The company completed construction on a facility with more than 16,000 square feet of space that can be divided to lodge a variety of sizes. Unoccupied units are available starting from with space ranging from 2,500 to 8,239 square feet are now available. The company is also offering a 6,500-square-foot, fully furnished plug-and-play unit.

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