The terms and length of the lease were not disclosed, but the asking price for the property starts in the low $30 per square foot range, according to W&M. CIT cites that a large motivation for the move was to ease the strain of commuting on their employees--many of whom live in the suburbs--by having an office that was "close to home" for most of their employees.
MerrtView totals 255,000 square feet and reaches eight stories, just off Route 7 and the Merritt Parkway. W&M is a marketing and acquisition arm of the Malkin family.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
