2C — March 29 - April 11, 2013 — The Best of 2012 — Mid Atlantic Real Estate Journal
www.marejournal.com
The Largest Office Lease of 2012
cushman Wakefield e rutherford 200 south laurel ave.
nai James e Hanson 102 chestnut ridge rd. Montvale, nJ — 30,779 sF —
West, lane & schlager 400-444 north capitol st. nW, Washington Dc — 237,848 sF —
Middletown, nJ — 921,000 sF —
eric West
rich Lane
robert donnelly robert donnelly, Jr. Marc rosenberg
102 chestnut ridge rd. Montvale
andrew somple
Name of property: 200 South Laurel Avenue City, State: Middletown, NJ Size : 921,000 s/f Brokers: Robert Donnelly/Robert Donnelly, Jr./ Marc Rosenberg In March 2012, Cushman & Wakefield advised AT&T in selling a four-building, 921,000 s/f prop- erty to a consortium of Prudential and Sun Trust Advisors. AT&T simultaneously signed a 15-year leaseback for the space, which is part of AT&T Labs’ five-building, 1.8 million s/f headquarters complex at 200 South Laurel Avenue in Middletown. At the same time, the team represented AT&T in exercising a purchase option for the fifth building on the prop- erty, from Steiner Companies. The creative structure allowed AT&T to accomplish both transactions with no out-of-pocket expenses.
After completing several smaller deals with Community Blood Services (CBS) to handle their growth needs, the Board of Trustees decided it was necessary to combine the various departments and functions of CBS into one building. In addition to collecting blood and blood related products, CBS is involved with a bone marrow registry as well as the collection and storage of cord blood. Andrew Somple, SIOR, Senior Vice President of NAI James E Hanson was then given the task to sell their main facil- ity at 970 Linwood Ave West, Paramus, NJ and to find a new larger building that would accommodate their growth needs. With the understanding of the market, Somple sold their Paramus facility to Valley Hospital of Ridgewood. He then orchestrated a comprehensive search for CBS’s new location that included a formal Request for Proposal process. It was ultimately decided that 102 Chestnut Ridge Road, Montvale would offer the features and benefits that CBS required. In addition to an aggressive rent and workletter allowance, their property management group demonstrated their ability to handle the needs of CBS.
Mindy saffer richard siegel
Brokers: Eric West, Rich Lane, Mindy Saffer, Richard Siegel. In one of 2012’s largest private-sector lease transactions in the Washington market, D.C.-based West, Lane & Schlager Realty Advisors negotiated on behalf of the State Services Organization a 15-year, 237,848 s/f lease at 400-444 N. Cap- itol St. NW, also known as the Hall of the States Building. WLS Principals Eric West, LEED AP, and Richard Lane, along with Mindy Saffer and Richard Siegel – both former WLS principals – represented SSO, which is a 36-year non- profit corporation founded by the Council of State Govern- ments, the National Conference of State Legislatures, and the National Governors Association.
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