Cresa NJ – North/Central Assists Midea with New Office Relocation

RUTHERFORD, N.J. - July 8, 2015 - PRLog -- RUTHERFORD, N.J., July 8, 2015 – Cresa NJ – North/Central, part of Cresa LLC, the largest firm to exclusively provide service to occupiers of office and industrial real estate in the world, announced today that it negotiated a new office lease for Midea Group, as they relocated to 5 Sylvan Way in Parsippany.

CresaNJ – North/Central Vice President Edward English, along with Managing Principals Thomas Giannone and Ronald Ganter, represented the tenant in the transaction. The landlord, Mack-Cali Realty Corporation, was represented in-house by Diane Chayes, Senior VP of Leasing, and Brian Decillis, Assistant VP of Leasing.

“Midea was doubling in size,” said Mr. English. “Because we work exclusively as tenant representatives with no conflicts of interest, we were able to work equally as aggressively with their current landlord’s portfolio as well as potential new landlords. The value that Cresa was able to bring to the transaction was that we mitigated the financial impacts of doubling in size, while still working to give our client the logistical benefits of their expansion.” Midea will be able to better organize the distribution of their various business units throughout their new, 6,500-square-foot space.

Midea Group is one of the largest electrical appliance manufacturers in the world and is headquartered in China. They are committed to staying at the forefront of technology in the areas of air conditioning, refrigerators, washing machines and other electrical appliances, and strive to establish a technological advantage through teamwork and innovation. Midea America and Canada Corp., a division of Midea Group, maintains warehouse locations in New Jersey, Texas, and California, and has been serving North American communities for more than 10 years.

About Cresa:
Cresa is an international corporate real estate advisory firm that exclusively represents tenants and specializes in the delivery of fully integrated real estate services, including: Transaction Management, Project Management, Strategic Planning, Corporate Solutions, Site Selection, Lease Administration, Capital Markets, Mission Critical Solutions, Relocation Management, and Facilities Management. For more information, visit www.cresa.com.