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Beauty and the Lease

New York
Beauty and the Lease
2121 Route 27 in Edison, NJ
What an lovely deal—Revlon renewed its 100k SF, full-building lease at 2121 Route 27 in Edison, NJ, three years in advance of its expiration. The R&D building is part of Towne Corporate Center, which also includes a 250k SF office building partially occupied by the cosmetics company. Revlon initially developed the entire center, and then sold and leased it back several years ago. Cushman & Wakefield’s James Frank, Dan Johnsen, and Josh Kuriloff repped Revlon with landlord The Morris Cos, which James noted is a “prime example of how credit tenants and their landlords are using early renewals to capitalize on today’s market and stabilize assets for the long-term.”