In other signings, Yamanouchi Pharma America leased just over 46,800 sf altogether, renewing leases for 39,834 sf at expanding by 7,000 sf at 61 South Paramus Rd. in Paramus. The 269,191-sf class A asset is currently 99.3% leased. Graham C. Conklin and Daniel M. Foley of Strategic Alliance Partners represented the tenant, the US subsidiary of Yamanouchi Pharmaceuticals of Japan. Mack-Cali's Christopher DeLorenzo was the in-house rep.
In Cranford, NJ, Public Service Electric & Gas renewed its lease of 46,191 sf for a five-year-term at 20 Commerce Dr. The 176,600-sf class A office property is 100% leased. Bryn Cinque of GVA Williams represented PSE&G, while in-house leasing director Toni Casiano represented Mack-Cali.
Also in Cranford, Metropolitan Life Insurance Co. signed a new lease for 14,555 sf for a 10-year term at 65 Jackson Dr., an 82,778-sf office property that is now 100% leased. Douglas Petrozzini of Grubb & Ellis represented MetLife in the deal, while Mack-Cali's Casiano represented his firm.
And in a previously announced lease, McDonald's Corp. took 30,700 sf at 105 Eisenhower Parkway in Roseland, NJ.
"Despite the uncertain economy, we continue to see solid demand from leading corporations interested in prime suburban office space," according to Mitchell E. Hersh, Mack-Cali's chief executive officer. His firm currently has a base of some 2,300 tenants across its portfolio of some 28.7 million sf of office and office/flex space, mostly in the Northeast.
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