"It's one of the few blocks of space its size in this submarket," according to Les Smith of Cushman & Wakefield of New Jersey, East Rutherford. Smith, along with C&W's Robert Donnelly and Kevin Murphy, has the marketing assignment. "It's being offered for $20 per sf, nearly $5 less than the average market value for comparable class A office space," Smith adds. "This rate is noteworthy in the market."
The building's features include a three-story atrium lobby, extensive landscaping, and a data center. "It was developed as a corporate headquarters facility," Smith points out. "Coupled with the price reduction, this is an excellent opportunity for a corporate user."
Corporate neighbors include Pfizer, Hartford Insurance, Simon & Schuster, Merck, ADP and Avaya. The latter, of course, is ironically a Lucent spin-off.
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