The building's owner, locally based Woodmont Properties, was represented in-house by its CEO, Eric Witmondt. The tenant was represented by Jim Fraser, managing director of corporate services for GVA Williams New Jersey, which has its main office here as well. Terms of the new deal were not released; availabilities in comparable office building space nearby are generally listed with an asking price in the neighborhood of $23 per sf.
"We're please to have completed this lease renewal on behalf of NECA," says Fraser, who represents the organization's real estate requirements on the national level. "NECA will continue to use this office space as its national headquarters."
Woodmont's building is located near both I-287 and Route 10 in this Morris County community. Constructed of precast stone, the asset has an on-site cafeteria, as well as loading docks.
NECA exists because of Federal Communications Rules that require all incumbent local telephone to belong to the membership organization. The non-stock corporation was formed in the early 1980s to administer the FCC's access charge plan following the breakup of AT&T and the Bell System. NECA provides a wide range of telecom services, with a 300-plus workforce made up of professionals in industry regulation; the administration of complex public policy programs; and the collection, analysis and forecasting of industry data.
While headquartered here, NECA also operates a string of regional offices in Atlanta, Chicago, St. Louis, Omaha, Denver and Concord, CA. The organization also has a government relations group situated in Washington, DC.
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