Interestingly, AFRT itself is a sublessee in this case, having taken over the space from Charles Schwab. The latter had net-leased the eight-floor block in 2002, when the asset was completed, but has never occupied it.

Managing director Frank Doyle and SVP Cynthia Wasserberger, EVP Paul Mas and analyst Jay Lapham of JLL's New York office are all involved with the assignment, as are EVPs Samuel Buckley and Jonathan Meisel of the firm's new Parsippany, NJ office.

"The financial incentives available in New Jersey for businesses locating within the state are substantial," says Doyle. He adds that, "the space is available through 2017 or longer."

The building is located within Mack-Cali Realty Corp.'s Harborside Financial Center on this city's waterfront. Mack-Cali sold it in late 2003 to the New York-based iStar Financial Inc. for $194 million, or $336 per sf, but continues to manage the asset for the new owner.