Jones Lang LaSalle

Last updated: October 26, 2007 12:08pm

Regus Leases 21,000 SF at Mack-Cali Asset

By Eric Peterson

PARAMUS, NJ-The Regus Group, a Dallas-based provider of furnished offices, has leased 21,000 sf at Mack-Cali Realty’s Mack-Cali Centre III at 140 E. Ridgewood Ave. here. On the building’s fourth floor, the company will open a business center consisting of 86 offices, 147 workstations, one boardroom, one videoconferencing studio and one meeting room.

The term of the lease is 138 months, with CB Richard Ellis representing Regus in the transaction. Further details were not released; an availability in the 240,000-sf building is currently listed with an asking price of $26 to $28 per sf.

“We selected Paramus for our new location because of the strong growth trends that the Northern New Jersey office market continues to experience,” says Michael Berretta, VP-business development for Regus. “We have experienced increased demand from clients in this area, and our new Paramus center will allow us to offer an alternative to our Saddle Brook business, which has been a strong performer.”

The new business center is Regus’ seventh deal with the Edison, NJ-based Mack-Cali, and its 22nd center overall in New Jersey. The company’s worldwide reach is now 950 locations in 70 countries.

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