CUSHMAN & WAKEFIELD INKS HQ LEASE FOR SOFTWARE COMPANY
Shadow Financial Systems to Relocate to Washington Plaza, Piscataway, N.J.
PISCATAWAY, N.J. – June 29, 2011 – (RealEstateRama) — Commercial real estate services firm Cushman & Wakefield, Inc. has orchestrated an 11,000-square-foot headquarters lease for Shadow Financial Systems at Washington Plaza, 1551 South Washington Ave. in Piscataway. The software company, which develops solutions for global securities processing, reconciliation, clearing, treasury and accounting, will relocate to the Class A property from Edison, N.J., this summer in an expansion move.
Cushman & Wakefield’s Curtis Foster represented Shadow Financial Systems in the long-term transaction. Foster and Cushman & Wakefield’s Joseph Rosario also serve as exclusive leasing agents for Washington Plaza, a 200,000-square-foot, four-story corporate property owned by a Boston-based investment advisor. Kwartler Associates, Inc. is the managing agent.
“Shadow Financial Systems has effectively doubled its space with the lease at Washington Plaza, and has upgraded from a Class B to a fully amenitized, Class A environment,” said Foster, who noted that providing a platform employee retention and future recruitment was high on his client’s list of priorities. “With the real estate market in only the early stages of improvement following the recession, this is an opportune time for companies looking to make this type of quality-of-life move.”
Founded in 1997, Shadow Financial Systems develops, implements, maintains, and supports software solely focused on middle and back-office solutions for firms that trade securities. Among the company’s clients are NYSE Arca, National Financial Services LLC, a Fidelity Investments Company, Newedge USA, UBS, MF Global and Raymond James & Associates. The firm’s headquarters have expanded three times in less than seven years.
“The opportunity that Cushman & Wakefield presented to us was a perfect fit for a technology-based company,” noted Donald Marino, Shadow Financial Systems’ chief executive officer. “With the growth and development that our company is experiencing right now, this latest expansion will enable us to meet demand while continuing to deliver the exceptional services and solutions our customers expect.”
The Cushman & Wakefield leasing team is marketing units from 3,000 square feet at Washington Plaza, which serves as home to Fortune 500 and technology tenants, including such notable names as IBM, Revlon and Paychex, among others. The property features a two-story glass atrium lobby and newly renovated common areas. Tenants there enjoy multiple telecom carriers and other sophisticated infrastructure features, a full-service café with seating for 100, an ATM machine and on-site property management.
Washington Plaza sits in a corporate neighborhood filled with amenities, including dining, shopping, hotels and public transportation. It fronts on I-287, between exits 5 and 6, offering high visibility and direct highway access. Other proximate thoroughfares include the Garden State Parkway, the NJ Turnpike, I-78, Route 440 and the Outerbridge Crossing.
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