Vonage Inks 350k Renewal In Holmdel
Cloud services provider Vonage has inked a 350k SF renewal for its space at Mack-Cali's 23 Main St, representing one of the largest recent leases in New Jersey. The tenant has occupied the building since 2005, and its original lease was set to expire next year.
There was a chance that Vonage wasn't going to stay in New Jersey, according to Cushman & Wakefield's Ken Ashley, who brokered the deal along with colleagues Paul Giannone and Harlan Hollander with support from Ben Pugh and Maureen Kelly. The tenant conducted an exhaustive, multi-state search to look at all possible alternatives, but was attracted to the terms offered by Mack-Cali and New Jersey's business environment.
The Class-A building, which sits on 88 acres, will remain Vonage’s corporate HQ until 2023. The campus is home to more than 700 employees. Chris DeLorenzo, who recently spoke at Bisnow's 5th Annual New Jersey State of the Market event, repped the landlord in-house.
