Three new leases and one tenant renewal have brought 30,000 square feet in commitments to Rugby Realty’s 300 Lighting Way in Secaucus. Commercial real estate services firm Cushman & Wakefield serves as exclusive leasing agent for the 303,000-square-foot, Class A office property.
Curtis Foster and Jerry Shifrin, based in Cushman & Wakefield’s East Rutherford, New Jersey, office, lead the property’s leasing team and brokered the four long-term transactions. Among them:
Kapsch TrafficCom USA Inc., an intelligent transportation services firm, leased 13,000 square feet and will relocate a regional operation to 300 Lighting Way from neighboring East Rutherford, in an expansion move. Based in Austria, Kapsch maintains its North American headquarters in McLean, Virginia. Dan DePalma with JLL served as tenant broker.
Alliance Residential Company committed to 4,900 square feet and will establish a new office at the property. The Phoenix-based, privately owned, fully integrated real-estate operating company acquires, owns, develops and manages multifamily investment properties nationwide. Robert Norton from CBRE represented Alliance Residential in the transaction.
Ubiqus, a translation and interpretation services provider, leased 4,000 square feet at 300 Lighting Way. The location represents an expansion for the firm, which maintains an east coast headquarters in Manhattan. Robert Norton from CBRE served as tenant representative in this transaction as well.
Another tenant renewed its 8,500-square-foot lease at the property. “300 Lighting Way is attracting a mix of organizations with diverse requirements in terms of both size and space usage,” Foster said. “These most recent leases reflect the ownership’s flexibility and ability to accommodate a range of tenant needs.”
Rugby Realty is in the midst of a multi-million-dollar property repositioning at 300 Lighting Way. The firm purchased the property in 2014 and is adding a full-service café, fitness center, and a shared-building tele-conference center, all to be completed by July 1, 2015. The firm also is remodeling the lobby, elevator cabs and elevator landings. Rich Travaglini, COO at Rugby Realty indicated, “The response to our commitment to upgrade and modernize 300 Lighting Way has been outstanding. Our plan is to demonstrate to the market place that Rugby Realty is open for business in New Jersey.”
Constructed in 1988, the seven-story asset is located in the heart of the New Jersey Meadowlands at the intersection of the New Jersey Turnpike and Route 3 within Harmon Meadow. Tenants benefit from that 175-acre mixed-use community’s shopping, dining, recreation and child care facilities, as well as shuttle service to the Secaucus Junction rail station and on-site structured parking.
Cushman & Wakefield is marketing approximately 175,000 square feet on four contiguous floors at 300 Lighting Way. This includes branding opportunity through prominent exterior signage for a major tenant. The property also can accommodate requirements as small as 4,000 square feet.
“300 Lighting Way is being re-introduced as a modern building that can accommodate major corporate users as well as young companies seeking to recruit the best and brightest talent,” Foster noted. “Its Class A accommodations and amenities are distinguishing it as a strategic value play within the marketplace.”Related Articles: