Both EchoStar and American Landmark were represented in the transaction by Insignia/ESG's New Jersey office, based in Saddle Brook. IESG brokers involved in the deal include managing director Donald Sperling and senior managing directors Marc Trevisan, James Frank and Jeffrey Babikian.
Babikian calls the transaction "a win-win situation for the tenant, the property owner and the Morris County real estate market. While we have witnessed one of the most stagnant markets in more than 10 years, we are pleased to have been able to deliver a fully-furnished and operational facility to a tenant that could basically plug and go, while capturing, for the owner, one of the few large tenants present in the I-80 corridor."
The 20-year-old EchoStar is also the parent company of the small dish service, Dish Network. The company and its subsidiaries deliver direct broadcast satellite television products and services to customers worldwide.
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