EDISON, NJ-Mack-Cali Realty Corporation leased 580,310 square feet at its office and flex properties in New Jersey during the first quarter.

“While overall markets continue to be challenging,” said Mitchell E. Hersh, president and CEO,we are pleased with the leasing activity we are seeing in the New Jersey markets, where we continue to attract and retain high-credit quality tenants.”

This week, the REIT sold 55 Corporate Drive in Bridgewater to a Cole Investment subsidiary. Its recent acquisitions have been in the multifamily sector. However, Hersh said there were these highlights for its office/flex portolio:

  • Kiewit Infrastructure Co., a construction, mining, and engineering corporation, expanded to take all of the 53,730 square feet at 470 Chestnut Ridge Road in Woodcliff Lake. The tenant was represented by John Cunningham of Colliers International.
  • The Ayco Company, a financial counseling and education service, signed a 38,878-square-foot renewal at 8 Campus Drive in Mack-Cali Business Campus in Parsippany. The tenant was represented by Jonathan Meisel of Jones Lang LaSalle.
  • The Sherwin-Williams Company, a paint supplies retailer, renewed for 37,055 square feet at 10 Mountview Road in Upper Saddle River. The tenant was represented by Sara Jones-Maturo, Remy DeVarenne, and Scott Belfer, all of CBRE.
  • Paychex North America Inc., a payroll and benefits service, renewed for 30,156 square feet at 30 Knightsbridge Road in Piscataway. The tenant was represented by Michael Maroon of Acclaim Group.
  • Groundwater & Environmental Services, Inc., a provider of environmental consulting, engineering, and technical field services, signed a 30,070-square-foot renewal at 1340 Campus Parkway in Wall Township.
  • UBS Financial Services expanded to a total of 26,713 square feet at One River Center in Red Bank. The tenant was represented by Bill Brown, III and Joshua Cohen, both of Cushman & Wakefield.
  • TT Government Services Inc., a subsidiary of Applied Communication Sciences, signed a new 27,635-square-foot lease at One River Center. The tenant was represented by Joseph J. Sarno and Jeremy Neuer, both of CBRE.
  • Morgan Stanley Smith Barney Financing LLC, a global financial services firm, signed a 26,262-square-foot renewal at Mack-Cali Centre III, 140 East Ridgewood Avenue, in Paramus.
  • Decisions Resources LLC, a healthcare industry consultant, signed a new 22,453-square-foot lease at 5 Wood Hollow Road in Parsippany. The tenant was represented by William O'Keefe, Charles Parmelli, and John Boyle, all of Cassidy Turley.

Mack-Cali was represented in-house in all the transactions.

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
NOT FOR REPRINT

© 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.