Prudential Insurance Co. was represented in the transaction by Bryn Cinque, first vice president of GVA Williams of New Jersey, Parsippany, and Bob Brennan, vice chairman and Ken Abrahams, senior director of GVA Williams' New York office. Mack-Cali Realty was represented in-house by Patrick Eichner, the firm's director of leasing.
The latest signing encompasses a renewal for a total of 66,596 sf by the insurer, along with an expansion of 8,578 sf of space. The new lease carries a term of seven years; however, further terms of the transaction have not been disclosed.
"This transaction demonstrates the ability to serve the evolving office space needs of our tenants," says Mitchell E. Hersh, Mack-Cali's chief executive officer.
Prudential Insurance is one of approximately 2,100 tenants currently occupying space in Mack-Cali's portfolio. The latter consists of more than 260 properties totaling about 28.3 million sf of office and office/flex space, mostly in the Northeast, according to Hersh.
8 Campus Dr., a 215,265-sf class A office building, is currently 100% leased, according to Hersh. Located near I-287, I-80, I-78 and Route 24 in North Jersey's Morris County, the asset is part of the larger 12-building, 1.7-million-sf Mack-Cali Business Campus. Other tenants dotting the campus' roster include Kraft Foods, Deloitte & Touche, Cendant, Experion, MCI Worldcom, B&G Foods, United Parcel Service and Sankyo Parke Davis.
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