C&W Orchestrates Trade of Metroview in Edison

EDISON, N.J. - Nov. 17, 2015 - PRLog -- Commercial real estate services firm Cushman & Wakefield has orchestrated the trade of Metroview in Edison. Mack-Cali Realty Corporation acquired the 196,000-square-foot, 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 percent 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 noted. “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.”

Based in East Rutherford, New Jersey, Cushman & Wakefield’s Metropolitan Area Capital Markets Group specializes exclusively in investment sales of office, industrial, multifamily and retail properties throughout New Jersey, New York, Fairfield County, Connecticut, Pennsylvania, and Delaware. The team has completed more than $17 billion worth of transactions since 2000, closing on $1.2 billion in 2014.

The successful merger of Cushman & Wakefield and DTZ closed September 1, 2015. The firm now operates under the iconic Cushman & Wakefield brand and has a new visual identity and logo that position the firm for the future and reflect its trusted global legacy and wider history. The new Cushman & Wakefield is led by Chairman & Chief Executive Officer Brett White and Global President Tod Lickerman. The company is majority owned by an investor group led by TPG, PAG, and OTPP.