Copper Ridge Center, located on six acres at 9 Polito Dr. in theMeadowlands submarket, was completed in 1989. As reported byGlobeSt.com, Wellsacquired the 10-story, 268,000-sf class A building in thesummer of 2003, paying a reported $47 million, or just over $175per sf for the asset. The seller was the Utah State Retirement Fundof Salt Lake City.
The New York-based Polo, which uses the location for itsadministrative and support operations, has been in the buildingsince 1992. The apparel and accessories giant will continue tooccupy approximately 60% of the asset, sharing the location withsuch other tenants as Mitel Networks and TeleCheck.
"Polo Ralph Lauren is among the leaders in its industry, andwe're very pleased to be able to serve their real estaterequirements for another 13 years," Wells says.
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