Avison Young completes 60,040-sf lease for medical device tenant
Allendale, NJ – Global commercial real estate advisor, Avison Young, today announced it has completed a 60,215-square-foot (sf), full-building industrial lease on behalf of Regenity Biosciences, a New Jersey-based global leader in regenerative technologies serving the medical device industry. The property is located at 59 Route 17 South, Allendale, NJ in Allendale Industrial Park.
The Avison Young team representing the tenant, Regenity Biosciences consisted of Ed English, Principal and Head of NJ’s Industrial Occupier Solutions Group; David Herbert, Principal in Chicago and Head of the Private Equity Advisory Group; and Ron Ganter, Principal.
“In the past 18 months, the NJ industrial real estate market has changed dramatically in favor of tenants. A well thought out, strategic approach to the market will yield a variety of properties and landlords for good tenants to choose from, and it was a pleasure to work with Regenity’s leadership team on this project,” said English.
The property is owned by Faropoint, represented by Ken Lundberg, Patrick Lennon and Lorenzo Lambiase of NAI Hanson.
The transaction reflects broader trends in the New Jersey industrial market, which has continued to soften, offering tenants increased flexibility and leverage — particularly for specialized manufacturing users requiring significant power capacity and infrastructure.
The deal underscores Avison Young’s expanding role in advising industrial and life‑science users across New Jersey, helping occupiers align real estate decisions with long-term business, workforce and operational goals.
About Avison Young
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers
for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2025 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 14 consecutive years.
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