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AXA ahead of the curve with 60,000 s/f renewal.

Hartz Mountain Industries and Cushman & Wakefield jointly announced today that AXA Equitable Life Insurance Company, the leading financial protection and wealth management firm, has renewed its 60,569-square-foot lease at 200 Plaza Drive located in Harmon Meadow in Secaucus, NJ.

AXA Equitable Life Insurance Company will remain in its office space on the entire first floor and part of the lower level.

The firm maintains support functions at the property.

Cushman & Wakefield's Matthew Astrachan, Paul Glickman and Mitti Liebersohn of the firm's Midtown Manhattan office and Curtis Foster of its East Rutherford office represented AXA Equitable Life Insurance Company in its site evaluation and in lease negotiations with Hartz Mountain Industries.

Lease renewals, especially ones like the AXA Equitable, signify not only the appeal of a location to a tenant, but are becoming the signs of a tightening market as New Jersey's economy remains strong, according to Hartz president and chief operating officer, Emanuel Stern.

"New activity in the North Jersey marketplace has been moderately strong, and as a result of the improving occupancy, existing tenants are left with few local options," explains Mr. Stern. "AXA Equitable is another in a long line of success stories of corporations who recognize the importance of a premier location such as Harmon Meadow."

"The 200 Plaza Drive property continues to meet AXA Equitable's needs as a corporate support office," said Astrachan, a Cushman & Wakefield executive vice president.

"The Harmon Meadow complex provides a central location and offers a full range of amenities and services."

"This renewal enables AXA Equitable to establish a longer-term occupancy and offers flexibility for its evolving business," said Paul Glickman, an executive vice president at Cushman & Wakefield.

Headquartered in Manhattan, AXA Equitable Life Insurance Company provides governments, institutions, corporations, foundations and individuals with financial planning, asset management and insurance.
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Title Annotation:NEW JERSEY
Publication:Real Estate Weekly
Date:Nov 22, 2006
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