Insurance giant extends Red Bank lease to 98,500 s/f.

High Point Safety & Insurance Management Corporation, which provides management services for High Point Preferred Insurance Company and its subsidiaries, a leading New Jersey auto insurer, has extended and expanded its lease 10,000 s/f at its Red Bank location.

The firm also signed a 17,850 s/f lease in Parsippany for its claims office, currently located in Fairfield.

The 98,508 s/f lease in Red Bank makes High Point the largest tenant at 331 Newman Springs Road. The additional square footage was leased to accommodate internal growth at this location. High Point's claims office will be relocating from 130 Clinton Road in Fairfield to 600 Parsippany Road, Parsippany.

Studley negotiated co-terminus leases to expire in 2020 with the landlord of both buildings, Mack-Cali. "We structured these leases through extension, expansion and relocation in a manner that was most economically efficient for the client, affording substantial long-term cost savings," said Robert Bull, executive managing director of Studley's Iselin office, who along with colleagues Philip Lipper, corporate managing director, Iselin, and Michael Kennedy, executive managing director, Philadelphia, represented the tenant. Mack-Cali was represented in-house.