Garden State Corporate Center

Shelbourne Global Bucks Repurposing Trend with Leasing Success

February 1, 2022

Avison Young’s New Jersey office has arranged more than 172,500 square feet in new office, industrial/flex and life sciences leases across private real estate holding company Shelbourne Global’s 631,784-square-foot commercial portfolio in Piscataway and Bloomfield, NJ.  

Leading biotech company Genscript inked a new 56,843-square-foot lease at Shelbourne’s 20 Kingsbridge Rd. in Piscataway for office, research and lab space, while energy technology company Lummus Technology, Inc. and full-service marketing company Acosta, Inc. signed long-term office leases at 1515 Broad St. in Bloomfield for 115,707 square feet in total. Avison Young’s New Jersey-based principal William McCaffrey represented Shelbourne in all three transactions.  

“Shelbourne has continued to lease their office portfolio while bucking the trend of owners in New Jersey repurposing their commercial assets, as their Piscataway and Bloomfield properties continue to experience new interest, renewals and lease extensions even in midst of the pandemic,” said McCaffrey.

Read the Article on Connect CRE