CB Richard Ellis negotiated the 22,000-square-foot lease renewal, on behalf of Patent Construction. CBRE vice president Ronald Volk and Charles Laginestra, first vice president, represented the tenant in this transaction.
"Harsco's Patent Construction Systems division will continue to operate its North American headquarters out of this space," says Volk. "The convenient location and strong ownership, among other building aspects, continue to make it the perfect fit for our client's needs. We are pleased to have been able to negotiate such an agreeable lease renewal on behalf of this valuable client."
The 10-year lease renewal secures the 348,510-square-foot, class A building's occupancy rate at 89% leased, said Mack-Cali president and CEO Mitchell Hersh during the company's Q4 2008 earnings call.
The five-story building features excellent amenities, including a cafeteria and atrium, and is immediately adjacent to restaurants, shopping and a hotel.
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