Advance Realty Announces 55,000-Square-Foot Lease at 445 South Street in Morris Township, N.J.
Advance Realty, a leading Northeast U.S. owner and developer of Class A office, mixed-use and flex-space properties, has announced that Marsh USA, Inc. has signed a lease for 55,000 square feet at Advance@Southgate, a 320,000-square-foot, Class A office building located at 445 South Street in Morris Township, N.J., that Advance Realty owns in a joint venture with Strategic Capital Partners.
Marsh USA, Inc., which is relocating from its current office in Whippany, N.J., will occupy space on the second floor of Advance@Southgate. The company’s move-in is scheduled for the first quarter of 2011.
Marsh USA, Inc. is a world leader in delivering risk and insurance services and solutions to its clients, providing program design and placement, post-placement program support and administration, claims advocacy, and a wide array of risk analysis and risk management consulting services.
Also occupying the space will be Marsh USA subsidiaries Guy Carpenter, which provides strategic risk management and reinsurance, and Mercer Consulting, which provides benefits consulting
Vice President of Leasing Brian Banaszynski provided in-house representation for Advance Realty in the transaction. Ray Sohmer, Craig Eisenhardt, Gregg Middleton, and Nicholas Hilton of CB Richard Ellis represented Marsh USA, Inc.
“The amenities-rich, state-of-the-art environment offered by Advance @ Southgate will serve as an ideal New Jersey headquarters for Marsh USA,” Banaszynski said. “A company of the caliber of Marsh requires an office that is reflective of its leadership position, and we are confident that the company’s business will be well-served by this new location.”
Marsh USA joins a prestigious roster of tenants at Advance @ Southgate, including Covanta Energy and Travelers Insurance.
Advance @ Southgate has been completely redeveloped by Advance Realty to new building standards. On-site amenities include a brand new fitness facility, common conference rooms and full-service cafeteria, as well as expansive parking. Advance has recently expanded the fitness center and cafeteria, further enhancing the amenities and services available to tenants of the building.
Located in the heart of Morris County — one of New Jersey’s most desired office locations — Advance @ Southgate offers immediate access to Interstate 287 and close proximity to Route 24 and Interstates 78 and 80. The building provides convenient access to three NJ Transit train stations providing direct service to Midtown Manhattan, and is easily reached from Newark Liberty Airport.
Tenants of Advance@Southgate are served by the building’s close proximity to downtown Morristown, which hosts a myriad of banking facilities, shops and restaurants, as well as the Morristown Memorial Hospital and Morristown Airport, which is used heavily by corporate executives. Nearby hotels include the Madison Hotel, Westin Governor Morris and the Hamilton Park Conference Center.
About Advance Realty
Headquartered in Bedminster, N.J., Advance Realty is an owner and developer of office, flex, industrial, retail and multifamily properties. With 4.5 million square feet of operating properties and a development portfolio consisting of 6 million square feet of commercial projects and 6,500 residential units, Advance is one of the leading real estate owners in the Northeast. For more information, call Advance Realty at (908)-719-3000 or visit www.advancerealtyinterests.com.