Mauro Calcano, vice president, human services, says that theproperty's campus-like atmosphere is very attractive "Thebuilding's location also was a consideration. It's accessible fromall points in the tri-state area."

W&M Properties is engaged in a $12 million-capitalimprovement program at the five-story, 285,000-sf structure, whichis 92% occupied. Improvements to the health and fitness center,multimedia conference facility, public corridors and landscapinghave been completed. Enhancements now underway include renovationsto the lobby, installation of a new closed circuit TV securitysystem and electronic palm readers for after-hours access.

Jones Lang LaSalle of New York City represented Sara Lee Coffee& Tea. W&M Properties dealt for the owner, an affiliate ofthe Malkin family.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.