MWW GROUP PUBLIC RELATIONS SECURES METROPOLITAN CENTER SIGNAGE IN LEASE EXTENSION
Cushman & Wakefield Brokers Transaction at Meadowlands Office Landmark
EAST RUTHERFORD, N.J. – January 19, 2012 – (RealEstateRama) — Metropolitan Center, the New Jersey Meadowlands landmark office tower, will soon have MWW Public Relations signage on the building. The public relations agency, one of the top 15 agencies in the world, and a long-time tenant at the property, has extended its lease and secured building signage rights at the 420,000-square-foot property, announced commercial real estate services firm Cushman & Wakefield, Inc.
Barry J. Zeller, executive vice president of Cushman & Wakefield’s Manhattan office, and David DeMatteis of the company’s East Rutherford operation (located at Metropolitan Center) represented MWW Group in the lease extension and signage negotiation. CB Richard Ellis Investors owned the 15-story property, which is now owned by KBS Realty; Greg Barkan of CBRE brokered the long-term transaction on his company’s behalf.
Located at One Meadowlands Plaza – directly off Exit 16W of the New Jersey Turnpike at its intersection with Route 3, Metropolitan Center sits adjacent to the Sheraton Meadowlands Hotel and Conference Center, directly across from the Meadowlands Sports Complex. For many years, until 2005, its rooftop signage held the “Metromedia” name.
“This property is the largest and most prominent Class A office building in the highly desirable Meadowlands submarket,” DeMatteis noted.
“It has excellent visibility from both roadways and the sports arena,” Zeller added. ”MWW Group will enjoy outstanding exposure for its corporate name day in and day out – not to mention the benefits of having the company signage sitting atop of the building facing MetLife Stadium when that venue hosts Superbowl XLVIII in 2014.”
One of the nation’s five largest independent public relations agencies, MWW Group initially leased at Metropolitan Center in 1997 and maintains 32,000 square feet there. The firm specializes in consumer marketing, corporate communications, digital media strategies, investor relations, public affairs, government relations, sustainability, technology and healthcare. Metropolitan Center serves as its headquarters, with additional offices throughout the United States and Europe.
“MWW Group opted for an early lease extension in order to take advantage of today’s favorable terms,” DeMatteis added. “CB Richard Ellis Investors wanted the benefit of retaining this long-term credit tenant, providing both a competitive rental rate and an outstanding opportunity for brand exposure.”
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