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Denholtz Properties Signs New Lease at Recently Acquired Markel Office Building in Red Bank, N.J.

20 August 2019

Denholtz Properties has signed a lease with Xela Communications, L.L.C. for 5,175 square feet of office space at 322 Highway 35 South in Red Bank, N.J., bringing the building’s occupancy rate to 90%. This lease is part of Denholtz Properties' recently acquired two-building office portfolio, purchased through a sale and leaseback agreement with Markel Service, Incorporated (a subsidiary of Markel Corporation), which continues to lease space in both buildings.


With a prestigious tenant lineup, including Markel, Traub Lieberman Straus & Shrewsbury, and Sensato, the nearly fully occupied portfolio underscores Red Bank’s growing reputation as a desirable business location.


“Red Bank, and by extension, Monmouth County are rapidly becoming one of New Jersey’s most-desirable submarkets,” noted Kristine B. Hurlbut, Senior Vice President of Leasing at Denholtz Properties. “The many growing businesses such as Xela Communications that are looking to call the area home showcase the borough’s appeal for both companies and residents.”


Xela Communications, a leading telecommunications consultancy, has operated for over a decade, helping businesses nationwide develop customized telecommunications strategies that improve efficiency and resiliency. Their new lease at 322 Highway 35 South enables Xela to further expand its services to clients across the U.S.


Situated along New Jersey’s primary North/South corridor and easily accessible, 310 and 322 Highway 35 South provide tenants with proximity to a bustling downtown and exceptional transportation options, reinforcing Red Bank’s appeal as a premier location for both business and lifestyle.


Kristine B. Hurlbut of Denholtz Properties represented the landlord, while Larry Dickstein of Dickstein Real Estate Services represented Xela Communications in the transaction.

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