The commercial real estate services firm serves as the exclusive leasing agent for the 208,000-square-foot, Class A office property, which continues to experience steady interest.
The transactions include a 3,120-square-foot headquarters commitment by August eTech. Carolyn Sica from CBRE represented the managed IT services firm, which relocated to the property from Hamilton. Additionally, commercial contractor Tekcon Construction leased 1,800 square feet to establish a new regional office.
Cushman & Wakefield’s Paul Giannone, Todd Elfand, Kevin Carton and Joe Vacca – based in Iselin, N.J. – will head the 200 Cottontail Lane leasing team. The property includes two adjoining buildings with a center courtyard; 14.5-acre, park-like setting with outdoor seating and a fountain; and an onsite cafe.
“The 200 Cottontail campus offers a true oasis in the heart of Somerset,” Elfand noted. “This setting, and the property’s exceptional ownership and management, have contributed to steady interest and an uptick in leasing activity. The property also offers a highly-accessible location just one-quarter mile from the I-287, four-way Exit 12 interchange and within minutes of the region’s abundant retail, hospitality and lifestyle amenities.”
According to Cushman & Wakefield Research Services, small deals are driving new demand in Central New Jersey in 2019, with tenants of 10,000 square feet or less accounting for 40.0% of the 1.7 million square feet in regional office leasing through mid-year. Meanwhile, the flight to quality continued with 63.6% of all new activity during the second quarter taking place within Class A assets.
“We have seen significant inquiries from smaller tenants like August eTech and Tekcon Construction at 200 Cottontail Lane and we are also receiving calls from mid-size and large tenants,” Elfand added. “One of the great things about this building is its versatility and ability to accommodate requirements from less than 5,000 square feet up to 50,000 square feet.”
The Winter Organization is a New York-based, vertically integrated real estate investment management and development company. The firm has built a reputation as a first-class owner, operator and developer over its more than 100-year history. With an unparalleled focus on serving its tenants, Winter brings an artisan’s approach to preserving the architectural integrity and historical context of its projects while incorporating modern technology and service to create the next generation of inspirational work environments.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.