Jones Lang LaSalle


Everest Re Expands to 172,000 SF
By Eric Peterson

BASKING RIDGE, NJ-Everest Reinsurance has signed a 57,240-sf expansion at 477 Martinsville Rd., increasing its occupancy at Westgate Corporate Center to nearly 172,500 sf. The four-story, 230,500-sf 477 Martinsville Rd., also known as Westgate Corporate Center I, was built in 1990 and is part of a two-building, 280,000-sf corporate complex.

"The growth of Everest’s business necessitated the additional space," says Eric Deutsch, SVP in the New York City office of CB Richard Ellis, who with Jason Pollen, FVP in the New York office, and Ward Greer, FVP in the firm’s East Brunswick, NJ office represented Everest. "After reviewing the market, Everest was pleased to find that the building was able to accommodate its needs."

James Nugent of the Gale Co., Florham Park, NJ, represented the building’s owner, the State Teachers Retirement System of Ohio. Terms of the expansion were not released; space was listed on the Gale Co.’s web site as "negotiable."

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