In the larger of the two deals, Sumitomo Mitsui Banking Corp. has signed on for a total of 40,470 sf within the nine-story class A building, according to Mitchell E. Hersh, Mack-Cali's president and CEO. The lease, which runs for a term of 10 years and seven months, was arranged for Sumitomo Mitsui by Derek Trulson, Aron Whitehead and John C. Giordano III of the Staubach Co., Murray Hill, NJ. Mack-Cali was represented in-house by Christopher DeLorenzo, the firm's vice president of leasing, and Thomas Savoca, director of leasing.
Sumitomo Mitsui Banking Corp., a subsidiary of the Sumitomo Mitsui Financial Group, is no stranger to Harborside Financial Center. Simultaneous to the company's sign-up at Plaza 1, it renewed its existing occupancy of 30,683 sf at the adjacent Plaza 2 building. The 10-year renewal was negotiated by the same brokers.
In the second Plaza 1 signing, the investment firm of Fred Alger & Co. took 37,785 sf for a term of 15 years. The Manhattan-based tenant was represented by Alexander Chudnoff and Curtis Foster of Cushman & Wakefield. Mack-Cali was represented by Mark Ravesloot of CB Richard Ellis, and in-house by DeLorenzo and Savoca. Further terms of the various leases were not disclosed.
Harborside Financial Center's office component is currently 91% leased. According to figures posted on the firm's website, Plaza 1 itself currently has just over 220,000 sf available. The larger complex also includes retail and residential components and a Hyatt Regency Hotel. The recently completed renovation of Plaza 1, designed by Beyer Blinder Belle, included a revamped entranceway, according to Hersh. The project also included improvements to the building's lobby and other common areas.
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