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CRANFORD, NJ-Public Service Electric and Gas, the state’s largest utility, has renewed its lease for 46,191 sf of office at 20 Commerce Dr. here. The Newark-based PSE&G uses the space as a call center, occupying about one-quarter of the nearly 180,000-sf class A building.

The tenant was represented in the transaction by Bryn Cinque, senior vice president of the Parsippany-based GVA Williams NJ. Building owner Mack-Cali Realty Corp., located in Edison, was represented in-house by senior director of leasing Toni Casiano. Terms were not released.

“This was an important lease renewal for our long-term client, PSE&G,” Cinque says. “Located in the Parkway corridor, it’s an ideal place for their call center, which handles customer inquiries 24/7. It meets PSE&G’s real estate and operational needs.”

The renewal comes at a time when the overall vacancy rate in Central New Jersey has edged up a bit to nearly 19.6% because of an influx of sublease space, according to GVA Williams NJ’s just-released Q1 market report. The Union County submarket, location of 20 Commerce Dr., is tighter, according to the report, showing a vacancy of just 12% across its six million-sf inventory. Average asking rent at the end of Q1 was $25.34 per sf.

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