Prudential leases at Metro Park

Real Estate Weekly, Feb 9, 1994

The Prudential Home Mortgage Co., Inc., a division of The Prudential Insurance Company of America, has relocated its northeast regional offices to Metroview at Metro Park, New Jersey. The announcement was made by Thomas V. Bermingham, executive director of Edward S. Gordon Company of New Jersey, Inc., exclusive leasing agent for the new 195,700-square foot building.

"Prudential Home Mortgage selected Metroview for its headquarters-quality design and construction, sophisticated building systems and excellent economics," explained Andrew B. Zezas, the ESG/NJ broker who with Bermingham represented the owner in the transaction.

"Due to the use of high quality materials and efficient design, Metroview was originally offered at a much higher rental rate when it was first completed. However, ESG's knowledge of the financial requirements of Metro Park area tenants, coupled with Bellemead's keen understanding of the dynamics of the real estate market, resulted in an aggressive and affordable rental package offering.

Prudential Home Mortgage is the first tenant to take advantage of the new rental structure," Bermingham said, adding that the new rates, which are below market for such a distinctive building, are attracting significant interest.

Prudential Home Mortgage was represented by Neil Gewirtzman of Sheldon Gross Realty.

Another factor that influenced Prudential's decision is the financial strength of the landlord, according to Zezas. The property, which is owned by Bellemead Development Corporation, a subsidiary of Chubb Corp., is overseen by Samuel Ketive, senior vice president of Bellemead.

Metroview is located at 343 Thornall Street in Edison. The tenant currently occupies space at 379 Thornall Street.

Metroview features a decorative brick and granite exterior. Quiet elegance is repeated in its lobbies, which are finished in granite and mahogany, complemented by brass elevator doors.

Metroview comprises 4 stories of prime office space over 4 1/2 levels of parking deck, making 85 percent of the building's parking protected. Mechanical features include highly sophisticated and flexible heating, ventilating and airconditioning systems which can be zoned down to 450 square feet. An advanced electronic security system monitors all access points to the building. The facility also includes an interior loading dock.

Metroview is within a few blocks of the MetroPark NJ Transit/AMTRAK railroad station and is minutes from the Garden State Parkway, New Jersey Turnpike, Route 287/440 and Routes 1 and 9.