EDISON, NJ-Even as Mack-Cali Realty Corp. muscles ahead with building its multifamily portfolio around the Northeast, the REIT had solid office leasing activity in the third quarter, it reported today. A total of 711,109 square feet was leased at office and office/flex properties in northern and central New Jersey.
In various transactions:
• AT&T Corp. renewed for 275,000 square feet at 30 Knightsbridge Road in Piscataway. That four-building complex, totaling 680,350 square feet, is 92.7% leased. Marc Rosenberg of Cushman & Wakefield represented AT&T. Mack-Cali was represented in-house by Toni Casiano, senior director of leasing.
• DSV Air & Sea renewed for 37,798 square feet at 100 Walnut Avenue in Clark. The 182,555-square-foot office building is fully leased. Casiano handled the deal.
• New Jersey Property-Liability Insurance Guaranty Association signed a new lease for 28,234 square feet at 233 Mount Airy Road in Basking Ridge, a 66,000-square-foot office building. The tenant was represented in the transaction by Jack Feeney of Studley. Mack-Cali was represented by Richard Travaglini.
• Cervalis leased 28,130 square feet at 29 Commerce Way in Totowa. The 48,930-square-foot office/flex building, located in Mack-Cali Commercenter, is 78% leased. The tenant was represented in the transaction by Jim Garibaldi and Mike Witko of the Garibaldi Group, and Howard Greenberg of Howard Properties, Ltd. Thomas Savoca represented Mack-Cali.
• United Water Management & Services took 24,900 square feet at Mack-Cali Centre II, 650 From Road, in Paramus. The 348,510-square-foot office building is 82% leased. Andrew Somple of NAI James E. Hanson represented United Water and Mack-Cali's representative was Richard Eyre.
- The Sigma Group advertising agency signed a new lease for 23,573 square feet at 10 Mountainview Road in Upper Saddle River. The 192,000-square-foot office building is 85% leased. Sigma was represented in the transaction by David Sherman, Marc Trevisan, Mark Zazinski, and Slava Vaynberg, all of Cushman & Wakefield. Mack-Cali was represented by Christopher DeLorenzo.
• New England Life Insurance Company leased a total of 21,564 square feet at 1305 Campus Parkway in Wall Township. The transactions were a 15,984-square-foot renewal and a 5,580-square-foot expansion. The 23,350-square-foot office building in Monmouth Shores Corporate Park is 92% leased. Jodie Matthews of Jones Lang LaSalle represented the tenant and John O'Hearn represented Mack-Cali.
• SS&C Technologies took a total of 18,983 square feet - a 12,687-square-foot renewal and a 6,296-square-foot expansion – at 11 Commerce Drive in Cranford. The 90,000-square-foot office building, located in Cranford Business Park, is 82% percent leased. The tenant was represented John Cunningham of Colliers International. Casiano represented Mack-Cali.
• Perrigo Company signed for 13,589 square feet at 8 Campus Drive in Parsippany, a 215,265-square-foot office building at the Mack-Cali Business Campus. The tenant was represented by Tom Carragher and Chris Koeck of Studley.
Mitchell E. Hersh, Mack-Cali's president and CEO said, “We are pleased with the level of leasing activity we saw during the quarter in New Jersey, as well as the fact that we continue to be the preferred provider of office space in the markets in which we operate.”
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