NAI Hanson Inks 20,554 Sf Lease at 135 Algonquin Parkway In Whippany, N.J.

PARSIPPANY, N.J., DEC 16, 2008 -- NAI James E. Hanson, one of New Jersey's leading commercial real estate firms, announced the completion of a lease for 20,554 square feet of space to Givaudan Flavor Corporation at 135 Algonquin Parkway in Whippany, New Jersey. The NAI Hanson team of Michael G. Walters, SIOR, Executive Managing Director and Robert Borny, Sales Associate represented The Hampshire Companies as owner and landlord in the transaction. CB Richard Ellis represented Givaudan Flavor Corporation as tenant.  Givaudan is a leading company in the flavors and fragrance industry currently headquartered in Hanover, NJ.

"We were able to offer Givaudan Flavor Corporation a great space, complete with state-of-the-art amenities, a well established owner all at a very affordable rate, stated Mr. Walters.  We have been overseeing the marketing and leasing of 135 Algonquin since the acquisition by Hampshire a number of months ago.  Hampshire made a number of improvements and upgrades to the property. Based on these and 135's overall re-positioning, we have been able to bring 135 Algonquin to 100 percent occupancy."

Mr. Borny said, "This space is well situated in the supply-constrained submarket of Whippany and the surrounding areas.  Being able to offer a first-class building located within close proximity to Givaudan Flavor Corporation's existing headquarters' location was surly a driving factor.  We are very pleased to be able to deliver such an outstanding tenant to our client. "

135 Algonquin Parkway, Whippany, is located directly off Route 10 and within close proximity to Interstates 287, 80 and route 24/78. This single-story 40,250-square-foot building sits on over three-acres and is situated in a notable hi-tech industrial park setting. Originally built in 1972, the building features 21-foot ceiling heights, heavy power, four tailgates, one drive-in bay and ample surface parking.

About NAI James E. Hanson

Since 1955, NAI James E. Hanson has been a leading independent full-service brokerage and property management firm serving a diverse client list.  NAI Hanson offers its clients strategic solutions and provides comprehensive value-added services such as office, industrial and retail brokerage, investment sales, land sales, management, government services and financing expertise.  NAI Hanson is also one of the original members of NAI Global, an international commercial real estate network with over 325 offices spanning the globe.

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