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