BEDMINSTER--Advance Realty Group has announced that Alliant Techsystems has signed a 2,850-sf lease to become the first tenant at The Picatinny Applied Research Campus (The PARC), a new, high-tech office/research park located at Picatinny Arsenal in Morris County.
A premier aerospace and defense company, ATK's office will be in The PARC's PARCs first 27,500-sf, single story, flex building, which is part of The PARC's initial development phase that will feature approximately 100,000 square feet of office/lab space within Picatinny's "downtown" area. ATK's Picatinny Arsenal space will house the company's field office.
Overall, The PARC is a planned 1.1 million-sf development of one- to three-story build-to-suit and multi-tenanted buildings with labs, office space and multi-purpose space for high tech, defense and academic tenants and users. The properties will offer Class A office and flex space designed for maximum flexibility in floor plan layouts and tenant fit-outs.
PARC tenants will also 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.
The PARC stems from an Enhanced Use Leasing agreement between Advance and InSitech, Inc., a partnership intermediary for the US Army's Picatinny Arsenal/Armament Research, Development and Engineering Center.
ATK is a premier aerospace and defense company with more than 17,000 employees in 21 states and annual revenues in excess of $4.1 billion.
Advance Realty Group
www.advancerealtygroup.com
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