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BERNARDS TWP, NJ-Everest Reinsurance Co. has signed a 115,259-sf long-term lease at Westgate Corporate Center I in this I-78 Somerset County township. The asset is a 230,518-sf class A asset owned by Gale & Wentworth, the Florham Park, NJ-based real estate company.

Everest Reinsurance had been subleasing the space from Prudential Insurance Co., its former parent. Previously called Prudential Reinsurance Co., operating as a subsidiary of Prudential, the company was spun off in 1995 through a successful public offering of 100% of Prudential Re’s stock. Through both brokers and working directly with ceding companies, Everest underwrites most classes and categories of business in treaty, facultative and specialty lines of property and casualty reinsurance.

Andrew Zezas and Ward Greer of Insignia/ESG represented Everest Reinsurance in the latest transaction. Bob Martie, senior vice president of leasing for Gale & Wentworth, represented the owner. According to Martie, “the lease reaffirms Westgate Corporate Center’s place in the market.”

Westgate Corporate Center is set on 40 wooded acres in the I-78/I-287 submarket of Central New Jersey. Among other tenants at the asset are Chubb & Sons and Fedders.

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