Advance Inks 105,000-SF US HQ Space

MORRIS TWP., NJ-Covanta Energy Corp. has leased the entire fourth floor and additional first-floor space at Advance @ Southgate, a class A office building located at 445 South St. here; the JV of Advance Realty and Strategic Capital Partners owns the 320,000-square-foot property. The long-term, roughly 105,000-square-foot lease is the largest new office lease in Morris County for 2009, according to CB Richard Ellis.

Vice president of Leasing Brian Banaszynski provided in-house representation for Advance, while Jeffery Heller and Linda Dow of CBRE represented Covanta in the transaction. Ed Butler, Esq. of McCarter & English was legal counsel for the landlord, and Robert Klausner, Esq. of Day Pitney was the legal counsel for the tenant in the lease negotiation.