PARSIPPANY — Cresa NJ – North/Central, part of Cresa LLC, an exclusively tenant-represented real estate services firm, announced that it has negotiated a new office lease for Midea Group, at Five Sylvan Way. They will occupy 6,500-square-foot space.
The building consists of four floors with a total square foot space of 151,383.
Five Sylvan Way is one of 15 class A office properties located at Mack-Cali Business Campus. Considered one of New Jersey’s top corporate addresses, Mack-Cali Business Campus offers an award-winning office environment situated on a beautiful 600-acre site in Morris County—home to numerous Fortune 500 companies. Tenants take advantage of a host of campus amenities including hotels, restaurants, banking, and a child care center, as well as nearby shopping, restaurants, and business services.
Edward English, Vice President, Thomas Giannone and Ronald Ganter, Managing Principals, represented the tenant in the transaction. The Landlord, Mack-Cali, was represented in-house by Diane Chayes, Senior Vice President of Leasing, and Brian Decillis, Assistant Vice President of Leasing.
“Midea was doubling in size,” English said in a prepared statement. “Because we work exclusively as tenant representatives with no conflicts of interest, we were able to work equally as aggressively with their current landlord’s portfolio as well as potential new landlords. The value that Cresa was able to bring to the transaction was that we mitigated the financial impacts of doubling in size, while still working to give our client the logistical benefits of their expansion.”
Midea Group is a privately held Chinese electrical appliance manufacturer, headquartered in Shunde, Guangdong province, China. As of 2013, the firm employs approximately 135,000 people in China and overseas
