MORRIS TWP., NJ-Cushman & Wakefield, Inc. has orchestrated a 32,000-square-foot lease renewal for a global ocean transportation and logistics company at Southgate Center Four, 465 South St. here. The European company will continue to utilize the three-story, 140,581-square-foot class A office building as its North American headquarters.

Although the firm declined to provide the rental rate, a fourth quarter office report from Marcus & Millichap Real Estate Investment Services places Morris Twp. rents at $24.28, with only a 1.7% decline in price since Q4 2008.

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