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AIG Subsidiary Signs 117,000-SF Lease

PARSIPPANY, NJ-American Home Assurance Co. signs a 13-year lease for 117,118 sf of office space at 5 Wood Hollow Rd. here. The company is a subsidiary of American International Group.

By Sean Ryan | Updated on September 20, 2005

Sean Ryan is associate editor of Real Estate New Jersey .PARSIPPANY, NJ-American Home Assurance Co., has leased 117,118 sf at 5 Wood Hollow Rd. here from building owner Mack-Cali. The lease is for 13 years.

Joseph Sarno and Jeremy Neuer of Cushman & Wakefield represented American International Group. American Home Assurance Co. is an AIG subsidiary. “It’s a new tenancy,” says Mitchell Hersh, president and CEO of the Cranford-based REIT. Hersh represented Mack-Cali because he has a long relationship with the principals of AIG.

AIG employees won’t have far to drive, since the old offices were all close to 5 Wood Hollow Dr. “It’s a consolidation of three smaller offices, all in the metropolitan Morris County market,” Hersh says.

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