ISELIN, NJ-Cisco Systems Inc. has signed a lease for 45,000 sf of office space at 111 Wood Ave. S, GlobeSt.com has learned. The signing of the maker of IP-based networking and related communications products effectively leases up the 84,000-sf building, which is also known as MetroTop I.
The building's owner, locally based Atlantic Realty Development Corp., was represented by EVP Paul Giannone and VP Kevin Carton of Jones Lang LaSalle, which has the leasing exclusive. Terms were not disclosed, but comparable availabilities in the immediate market are generally listed with asking prices in the $24-per-sf to $28-per-sf range.
“The Metropark marketplace is thriving,” Giannone says. “There is a very high demand for class A office space in this market.”
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