CBRE SECURES FOUR LEASES AT METROPOLITAN CENTER
SADDLE BROOK, N.J. (OCT. 31, 2011) –CBRE, New Jersey’s largest commercial real estate brokerage firm, announced today the signing of four significant leases totaling approximately 85,348 square feet at Metropolitan Center, a 422,000-sq.-ft., Class A trophy asset located in the heart of the Meadowlands submarket. The property is now 98.5-percent leased.
The transactions include three relocations and one renewal:
● Fashion designer Michael Kors signed a 31,000-sq.-ft. lease for the entire 12th floor. The company relocated from Secaucus, N.J. Cushman & Wakefield represented Michael Kors.
● Long-term tenant MWW signed a 31,860--sq.-ft renewal for a full floor. The public relations firm was represented by Cushman & Wakefield.
● Regus, which providesoffices,meeting rooms, and virtual office space, signed a deal for 18,732 sq. ft. of office space. The company was represented by Jones Lang LaSalle.
● RC Andersen, LLC, a construction firm, signed on for 3,756 sq. ft. in a direct deal.
The CBRE leasing team of Patrick Murphy, vice chairman; Donald M. Sperling, senior vice president; Greg Barkan, senior vice president; Robert Norton, associate, and Eva DeForest, general manager, represented the landlord, CBRE Investors, in all of the transactions.
“This iconic New Jersey property’s exceptional location, high visibility and varied amenity base are the decisive factors for prospective tenants,” stated Mr. Barkan. “There is no other property in the state that offers magnificent views as well as all-day transportation to and from local rail stations and other attractions, a full-service fitness center, cafeteria and a state-of-the-art video teleconferencing area.”
The property features many Class-A amenities, including covered parking, cafeteria, complimentary fitness center, video tele-conference center, on-site dry cleaning, car wash and on-demand shuttle bus service to Secaucus Junction train station and local area restaurants and shops. Metropolitan Center overlooks the new MetLife Stadium, home of the New York Giants and New York Jets, and the forthcoming American Dream at the Meadowlands shopping and entertainment complex, and is adjacent to the Sheraton Meadowlands Hotel and Conference Center.
Situated at Exit 16W off the New Jersey Turnpike at the junction of Routes 3 and 120, Metropolitan Center is conveniently located just 15 minutes from the Lincoln Tunnel. Newark Liberty International Airport and Teterboro Airport are within 10 miles, and dozens of restaurants and shopping options are just minutes away at the Secaucus outlets and regional malls.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services firm (in terms of 2010 revenue). The Company has approximately 31,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.