RexCorp Reports Healthy Leasing Activity in New Jersey During 2nd & 3rd Quarters
-- Recent transactions total over 136,000 square feet of Class-A space --
SHORT HILLS, NJ – OCT. 1, 2007 -- RexCorp Realty LLC (“RexCorp”) reported a strong 2nd and 3rd quarter for new leases and renewals despite a challenging real estate marketplace. The company reports that leases and renewals for this period exceeded 136,000 square feet of Class A office space throughout the northern New Jersey market.
“RexCorp’s portfolio of Class A properties remains extremely desirable to prospective tenants throughout the state of New Jersey,” said Todd Rechler, Senior Executive Vice President and Managing Director, New Jersey Division and Managing Director RexCorp Construction and Development LLC. “RexCorp is committed to investing in New Jersey and to remaining the ‘landlord of choice’ in the state by providing first class working environments in the most strategic locations. Our strong recent performance reflects the flight to quality by Corporate America and we remain well positioned in this climate.”
The recent transactions were completed at eight of RexCorp’s signature properties, 51 JFK Parkway in Short Hills, 119 and 99 Cherry Hill Road in Parsippany, 3 University Place in Hackensack, 44 Whippany Road in Morristown, Executive Hill Office Park in West Orange, 72 Eagle Rock Avenue in East Hanover, and 400 Forge Way in Rockaway.
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