Summit Associates Inc., which has its headquarters in the building, owns the five-story, 262,500-sf class A asset. And Summit was repped in the transaction by Paul Giannone and Jason Frey of Newmark Real Estate of New Jersey's Woodbridge office. Newmark has the exclusive leasing assignment for Raritan Plaza I.

First Investors Management, which is moving a total of 400 employees into the building, was represented by Mitchell Leff and Vince Budessa of American Properties Realty Inc., based in Iselin. The terms of the signing were not disclosed, although the lease was described as "long-term."

According to Diego R. Visceglia, president of Summit Associates, First Investors' new space was formerly occupied by Prudential Mutual Fund Services. Summit is a privately held development company that owns and manages about four million sf of office, distribution and high-tech space, all of it in New Jersey.

"In what has been a challenging office market, both Summit Associates and First Investors found strategic benefits in this transaction," adds Gavin Daniel, Summit's director of real estate.

Raritan Plaza I sits at the entrance to Raritan Center, a 2,300-acre mixed-use park developed on the site of the former Raritan Arsenal, a federal munitions facility. Raritan Arsenal contains a total of 13 million sf of office, research, warehouse/distribution and industrial space, as well as the New Jersey Convention and Exposition Center and several hotels.