Law Firm Renews, Expands

Christian Politan and Richard Baumstein of Cushman & Wakefield of NJ, East Rutherford, represented both sides in the transaction. Baumstein, a C&W EVP, and Politan, a participant in the firm's Junior Executive in Training program, are the exclusive leasing agents for the Principal Life Insurance Co.-owned building, which totals 126,710 sf. Terms of the deal were not released; availabilities in the building are currently listed with an asking price of $24 per sf plus tenant electric.

Baumstein and Politan have also just been involved in two other lease transactions in Northern New Jersey. The pair represented Callahan & Fusco, a law firm specializing in civil litigation, in its relocation to 72 Eagle Rock Ave. in neighboring East Hanover from its current offices in Roseland. The firm has taken 7,256 sf in the 146,488-sf building, which is owned by RexCorp Realty. The latter represented in-house by Brian Fitzsimons in the transaction. Terms were similarly not released; availabilities are currently listed with an asking price of $22 per sf.

And Politan also represented Tishman Technologies, the technology-specific branch of Tishman Construction, in negotiating a 9,700-sf branch office lease at 2 Hudson Pl. in Hoboken. National Realty & Development Corp. of Purchase, NY owns the 95,000-sf class A building, and was represented in-house by managing director Brian Sekel. Terms were not disclosed; the space had been listed with an asking price of $45 per sf.

Politan is one of several members of C&W's JET program hired by the firm in the past years. "It's a great program, with opportunities to work side-by-side with industry veterans," Politan says.