WGI's move put more than 131,000 sf of space on the local sublease market, and the three latest signings account for about one-quarter of that space. The remaining 100,000 sf of class A space is available at a below market rate, according to Carolyn Sica, first vice president in CBRE's East Brunswick, NJ office. CBRE has the exclusive on the space.
The three transactions, which were arranged by Sica and senior associate Suzanne Macnow, are led by the 17,100 sf taken by American Management Systems Inc., a consulting firm. Zydus Pharmaceutical USA took 9,450 sf, and Petrone Associates, a Guardian agency, took 4,000 sf. Terms of the deals were not disclosed.
In the three signings, Trammell Crow Co. was the broker for AMS. Commercial Property Network, based locally, spoke for Zydus. And the Sitar Co/Oncor International, Iselin, NJ repped Petrone Associates.
Built in 1991, 508 Carnegie Center is a four-story building within the 560-acre Carnegie Center campus. Corporate neighbors include Pharmanet, Sandoz and RCN. "We are continuing to aggressively pursue new deals with the intention of having this facility brought to 100% occupancy in the near future," Sica says.
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