Lee & Associates Negotiates 33,000 SF Office Space Expansion and Lease Extension

January 30, 2012

by The Hoyt Organization

Torrance, CA – January 30, 2012 – (RealEstateRama) — Lee & Associates, one of the largest commercial real estate brokerage firms in the country, has completed a lease extension and space expansion for the U.S. headquarters of Matheson Tri-Gas. The lease terms consist of an expansion of additional 10,000-square-feet to their current space and an 11-year extension for the entire space. Located at 150 Allen Road in Basking Ridge, N.J., the value of the transaction is undisclosed.

Brian Lynch, SIOR and Peter Rasmusson, CCIM of Lee & Associates’ New Jersey office represented Matheson Tri-Gas in the leasing of the neighboring 10,000-square-foot office space, available due to a recent consolidation by Oracle Corporation. The specialty and industrial gases producer needed to expand the corporate office due to recent acquisitions.

“Matheson was delighted that it could expand its U. S. headquarters with minimal disruption to the current set-up,” said Steve Stroud, general counsel for Matheson. “The size and timing of the expansion opportunity were a good fit.”

The building is owned by The Silverman Group. The in-house owner representative for the transaction was Toby Nelson and the exclusive agents for the owner were Bill Brown and Andy Parella from Cushman & Wakefield.

About Lee & Associates:
Celebrating more than 32 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 43 locations across the nation including Arizona, California, Georgia, Idaho, Indiana, Illinois, Kansas, Michigan, Missouri, Nevada, New Jersey, Texas and Wisconsin. With a roster of nearly 700 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.