Mack-Cali Realty Corporation and its joint venture partner, The Praedium Group, announced that global transportation company Yang Ming Marine Transport Corporation signed a new lease for 19,306 s/f at One Newark Center in Newark, New Jersey.
The 24-story, 416,429 s/foffice building is 98.4 percent leased. The class A property is one block from Newark Penn Station and offers tenants an attached parking garage, cafeteria, 24-hour security, redundant power systems, The Metropolitan Room at the Newark Club, and the Seton Hall Law School.
Yang Ming was represented in the transaction by Frank Recine of Newmark Grubb Knight Frank. Mack-Cali and The Praedium Group were represented by Jonathan Meisel, Chris Conklin, and Isabel Freire, all of Jones Lang LaSalle, exclusive leasing agents for the property.
Mitchell E. Hersh, president and chief executive officer of Mack-Cali, commented, “We’re delighted to welcome this global firm to One Newark Center. The property’s strategic location and rich area amenity base was compelling. We look forward to serving Yang Ming’s office space needs for many years to come.”