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Picatinny Applied Research Campus Reaches 100 Percent Occupancy

NEW JERSEY—Two new leases at Advance Realty’s Picatinny Applied Research Campus (PARC) in Picatinny Arsenal have resulted in the property’s first phase being 100 percent occupied. The campus is an office/research part located in Morris County.

New leases include:

  • A 2,715-sq.-ft. lease signed by CACI Inc., a provider of professional services and IT solutions in the areas of defense, intelligence, homeland security and IT modernization and government transformation. The firm will use its space as a new field office. Managing Director Brian Banaszynski represented Advance in-house, while UGL Equis Associate Vice President Chethan Rao negotiated on behalf of the tenant.
  • A 2,715-sq.-ft. lease signed by Dynamics Research Corporation (DRC), a management consulting, engineering, science and technology solutions firm. The firm will use its space as a field office. Banaszynski represented Advance, while McCall & Almy Executive Vice President and Principal Neil A. Schneider represented the tenant.

Other tenants at the campus include Raytheon, ATK, Booz Allen Hamilton, Concurrent Technologies Corporation and SAIC.

The building is part of The PARC's initial development phase that totals approximately 100,000 sq. ft. of office/lab space within Picatinny's downtown area. Overall, The PARC is a planned development of one- to three-story build-to-suit and multi-tenanted buildings with labs, Class A office space and multi-purpose flex space for high tech, defense and academic tenants and users.

Currently, the base has $1.5 billion of technology equipment, laboratory space, on-site scientists, research development and engineering personnel.

Tenants of The PARC have access to the amenities of Picatinny Arsenal, which include food services, recreational fields and an 18-hole golf course. In addition, Advance's plans for future buildings in The PARC include videoconference capabilities, meeting rooms, an auditorium and classrooms.

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