Cushman & Wakefield Inks ACE Insurance Lease at Allen Center

8 Feb, 2011, Basking Ridge, NJ

ACE American Insurance Company has leased 26,000 square feet of office space at Allen Center, 150 Allen Road in Basking Ridge, announced commercial real estate services firm Cushman & Wakefield, Inc., the property's exclusive leasing agent.

Bill Brown and Andy Parella of Cushman & Wakefield's Morristown, N.J., office, head leasing at the 191,319-square-foot, Class A property on behalf of building owner The Silverman Group. J.C. Giordano at Jones Lang LaSalle served as tenant broker in the long-term transaction.

"The Silverman Group acquired Allen Center in mid 2010 and has been able to put an aggressive value package in place for tenants," he said. "Additionally, we were able to accommodate ACE American's needs by relocating another tenant within the building to assemble a block of contiguous space."

Located just one mile from I-78, Exit 33, Allen Center features a renovated, full-height glass atrium main lobby with two elevators, as well as secondary entrances on each end of the four-story building, which provides direct elevator access to tenant spaces from the parking areas. Amenities include covered parking, a full-service cafeteria, fitness center, locker rooms with showers, outdoor patio, and Wi-Fi in the common areas and cafeteria.

American Insurance Company joins tenants such as Oracle, Dematic, Matheson Tri-Gas and Ibiquity Digital Corporation. Only 10,500 square feet remain available for lease.

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