Denholtz Completes 311,876 SF of Leasing in Second Quarter, with Renewals Showing Particular Strength
- Sep 07, 2010
September 7, 2010
By Allison Landa, News Editor
Real estate investment and development firm Denholtz Associates has hardly been idle in these days of difficult, yet evident, recovery. The New Jersey company has completed 77 office lease deals totaling 311,876 square feet across its portfolio.
Those deals included 55 lease renewals, 17 new lease agreements, and five expansions. According to Denholtz CEO Steven Denholtz, the firm is optimistic that this pace will continue. Denholtz added that lease renewals remained busy as tenants took advantage of affordable prices.
Major deals include 27,500 square foot leased at the Fairfield Business Center, 20,290 square feet leased at Southlake Corporate Center, and 15,770 square feet leased at 10 Alvin Court.
Given the slow pace of the economic recovery, it stands to reason that lease renewals may be a strong component of the leasing market since landlords are still willing to offer more competitive deals as well as concessions. The true test of renewals’ strength will come as the economy shores up.