SOMERSET, N.J. — SHI International Corp. has acquired a 420,000-square-foot office building in Somerset for its new headquarters. The Class A property is located at 290 Davidson Ave. The seller was LNR New Jersey Partners, which was leasing the building to a national telecommunications provider. The tenant vacated the building upon the expiration of its lease.
SHI will relocate to the building during the second quarter of 2011. Prior to that, the IT solutions provider will complete a number of infrastructure improvements and energy efficiency upgrades. The company also is considering the addition of solar technology. SHI will initially occupy 200,000 square feet of the building. The remaining space will be available for the company's future growth as well as leasing to other tenants.
Shawn Straka and Steve Fleming of Jones Lang LaSalle represented SHI in the deal. Jones Lang LaSalle's Project Development Services group will manage the interior build-out. The broker also assisted SHI in the 2006 acquisition of the headquarters building it is vacating.
“SHI International Corp. has experienced rapid growth over the past few years, outgrowing its current headquarters location, and was evaluating new locations that would support its future business objectives,” said Straka, a senior vice president with Jones Lang LaSalle, in a statement. “This new location will position the company well for continued growth.”
— Coleman Wood