Deutsche Bank Expands by 88,000 SF

According to information released by the Edison-based Mack-Cali, the lease involves 80,867 sf for a 10-year term and another 7,098 sf for a six-year term, both expiring in 2017. David Maurer-Hollaender led a team of New Jersey and New York brokers from CB Richard Ellis to represent the tenant, while Mack-Cali was represented in-house. Further terms were not released.

With the signing, the bank now leases a total of 391,258 sf at two buildings in Harborside Financial Center, a mixed-use complex with five class A office buildings totaling 3.1 million sf. Harborside Financial Center Plaza 2 accounts for more than 761,000 sf of that total, and altogether, the office buildings are now 98.8% leased. Asking rent for the availability is listed on Mack-Cali's website as "negotiable."

The deal also represents the third time in a year that Deutsche Bank has taken more space at Mack-Cali's Harborside Financial Center. As reported by GlobeSt.com, the banking giant took an additional 53,727 sf at the adjacent Harborside Financial Center Plaza 1 this past September. That expansion followed the leasing, earlier in 2006, of more than 228,000 sf in the same building, a deal encompassing a 90,000-sf renewal and an expansion of 138,000 sf.