Steady Leasing Activity Continues on East Coast

August 25, 2010
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The Tower Companies recently announced that BB&T Corporation has signed a new 15-year lease at Washinton, D.C.’s Millennium Building on K Street, renewing its 19,557 feet of commercial office space and 5,072 square feet of retail space that has served as the company’s headquarters since 1999. The company has also added an additional 7,093 square feet at the property to house its Wealth Management Group. Winston-Salem, N.C.-based BB&T currently holds $155.1 billion in assets and operates approximately 1,800 financial centers in 12 states and D.C.

Meanwhile, Frenkel & Co., Inc. has signed a new 11-year, 23,516 square foot lease at Harborside Financial Center Plaza 3 in Jersey City with Mack-Cali Realty Corporation. Frenkel & Co.--which began as a subtenant at Mack-Cali’s 101 Hudson Street in 2003--signed a direct lease in 2009. It is now located in a mixed-use complex with five Class A office buildings totaling 3.1 million square feet. The complex is 98 percent leased.

Mack-Cali owns or has interests in 287 properties that are primarily office and office/flex buildings located in the Northeast, totaling approximately 32.9 million square feet with a diverse tenant base.