EDISON, NJ — Commercial real estate services firm Cushman & Wakefield has orchestrated the trade of Metroview in Edison. Mack-Cali Realty Corporation acquired the 196,000 s/f, 10-story trophy office tower.
Cushman & Wakefield’s Metropolitan Area Capital Markets Group, headed by Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer and Kyle Schmidt, represented the seller and procured the buyer in the sale.
Located in Metropark, New Jersey’s premier mass-transit-served submarket, Metroview is 96% leased to an impressive tenant roster. Nearly $1.5 million in recent upgrades introduced an all-new, full-service cafeteria with outdoor seating, a renovated lobby and significant investments in the two-story parking deck. The building is currently pending LEED Silver certification. It sits directly off Exits 131/131A/132 of the Garden State Parkway, just a short walk from the Metropark NJ Transit station which offers 30-minute service to New York City and Philadelphia.
“As one of New Jersey’s core office markets, Metropark has a long history of attracting investors and blue chip tenants seeking quality product with superior accessibility,” Gabriel said. “Within this context, Metroview’s mass-transit proximity, column-free floor plate design, and history of institutional ownership have enabled the property to consistently outperform the market. The offering was very well received.”