The two new tenants are Geox USA Inc., a division of the Italian-based footwear company, which has taken 9,000 sf; and Coatue Management, a hedge fund management firm, which has signed on for 6,000 sf. Terms were not released; comparable space within the surrounding Metropark Corporate Campus is currently listed with asking prices in the range of $35 per sf.
"The Metropark office market is one of the most desirable in New Jersey, with a direct vacancy of just 7.6%," says James Scanlon, EVP with Jones Lang LaSalle, who co-brokered the deals for the landlord with JLL VP Kevin Carton. "The building is now 100% occupied, which reflects the desirability of both the building and the market."
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