Mauro Calcano, vice president, human services, says that the property's campus-like atmosphere is very attractive "The building's location also was a consideration. It's accessible from all points in the tri-state area."
W&M Properties is engaged in a $12 million-capital improvement program at the five-story, 285,000-sf structure, which is 92% occupied. Improvements to the health and fitness center, multimedia conference facility, public corridors and landscaping have been completed. Enhancements now underway include renovations to the lobby, installation of a new closed circuit TV security system and electronic palm readers for after-hours access.
Jones Lang LaSalle of New York City represented Sara Lee Coffee & Tea. W&M Properties dealt for the owner, an affiliate of the Malkin family.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
