ESG/NJ places insurer - Edward S. Gordon Company Inc. of New Jersey leases commercial space to Allendale Mutual Insurance Co. in New Jersey

Real Estate Weekly, Oct 14, 1992

Allendale Mutual Insurance Company, an industrial and commercial mutual insurance provider, has leased 25,000 square feet of office space for its regional headquarters at Morris Corporate Center III in Parsippany, New Jersey.

The announcement was made by Thomas V. Bermingham, executive director and co-manager of Edward S. Gordon Company of New Jersey, which represented the tenant in the transaction.

However, several major hurdles had to be cleared to make the economics viable. The Edward S. Gordon/NJ team of consultants and New Jersey and New York brokers were able to solve the challenges by financing Allendale's lease obligation at its previous regional headquarters in Livingston over the 10-year lease as well as relocating and reducing the firm's office space in Manhattan.

Allendale Mutual Insurance Co. is headquartered in Rhode Island.