Mack-Cali Realty, a self-administered and fully integrated real estate investment trust (REIT), has declared that it will build a class ‘A’ office building measuring 203,000 sq.ft for the hospitality company, Wyndham Worldwide. The new construction will enable Wyndham Worldwide to combine all its employees based in Parsippany, NJ to a single location.
Mack-Cali Business Campus, Parsippany, New Jersey. Credit: Mack-Cali Realty
The new construction will come next to the present corporate headquarters of Wyndham Worldwide measuring 250,000 sq.ft and is located in the Mack-Cali Business Campus at 22 Sylvan Way. When the construction of the new building is completed, the two buildings will offer a total leased area of 453,000 sq.ft an increase of around 14% in lease space thus offering a single functional location for a good number of associates established in Parsippany.
The present class A office building where Wyndham Worldwide has its office was built by Mack-Cali in 2009 in the first phase of the campus project. Wyndham Worldwide has applied for pre-lease of the proposed building for a period of 15 years and 3-months to have coextensive lease for both the phases.
The specifications for the three storied glass and granite construction are still underway. The new construction will uphold the core values and culture of Wyndham Worldwide, which includes its commitment to environmental support and use. The corporate head quarters of the company located at 22 Sylvan Way has received a number of appreciations for its green practices including the LEED Silver certification presented by the U.S. Green Building Council for its corporate interiors.
HLW International has provided the needed architectural services for the new construction. The new building is anticipated to be completed in the first part of 2013 and will be ready for occupancy in the third quarter end of 2013.
Source: http://www.mack-cali.com/