Jones Lang LaSalle

Wachovia Subleases 20,000 SF
By Eric Peterson

PARAMUS, NJ-Wachovia Securities has subleased 20,000 sf of office space at Mack Centre VI, a 250,000-sf office building at 461 From Rd. here. The firm will expand and move its local brokerage office to the building from a nearby location.

The deal was brokered for sublandlord Toys ‘R’ Us by Jeffrey Babikian, Richard Danesi, Brian Godau and Nick Savage of the Saddle Brook, NJ office of CB Richard Ellis. Kevin Murphy of Cushman & Wakefield represented Wachovia Securities. Terms of the sublease were not disclosed, however, space in the building is listed on CBRE’s website with an asking price of $24.50 per sf.

Mack-Cali Realty Corp., Cranford, NJ, owns the building, which is the one-time headquarters facility for Toys ‘R’ Us, before the toy retailer moved its operations to Wayne. The five-story class A building, which was completed in 1988, currently has units ranging from 5,000 to 100,000 sf still available, according to Babikian.

Copyright © 2006 ALM Properties, Inc. All rights reserved. Reproduction in whole or in part without permission is prohibited.