Berkeley Heights, N.J. (July 11, 2022) – NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate firm, announces it has negotiated a lease renewal for an 11,500-square-foot lease office/flex building at 60 Locust Avenue in Berkeley Heights, N.J. NAI James E. Hanson’s Andrew Kirshenbaum represented the tenant, The Wharton Institute for the Performing Arts, and Angel Mitlo of Berkshire Hathaway Home Services represented the landlord, 50-60 Locust Avenue Associates, LLC, in the transaction.
60 Locust Avenue is an 11,500-square-foot single-story office/flex building with 16’ ceiling heights, one exterior loading dock, 400-amp power service and a dedicated parking lot. Situated across from the Berkeley Heights YMCA and nearby the Thomas P. Hughes Elementary School with easy access to Route 24 and Interstate 78, the building has long been used as a performing arts school.
The tenant, having occupied the space for many years, tapped NAI James E. Hanson and its proven track record of success in the local market to negotiate the renewal on their behalf. The tenant will continue to operate a performing arts school within the location and will offer accessible, high-quality performing arts education that sparks personal growth and builds inclusive communities.
“In today’s market, it’s essential that tenants secure properties that fit their specific needs,” said Kirshenbaum. “With the current economic landscape creating complications for many tenants, it’s important that businesses work with an experienced brokerage team to determine whether a renewal or a new location is the best option for them. We’re proud to play a role in keeping The Wharton Institute for the Performing Arts in the Berkeley Heights community.”