Newmark Grubb Knight Frank (NGKF) announced Tuesday that it has negotiated with AnnieMac Home Mortgage to recommit to its headquartered location for another eight years by extending and expanding its lease at 700 East Gate Ave. in Mount Laurel.
According to the announcement, the Class A property is a five-story, 119,000-square-foot office building in the East Gate Corporate Center. AnnieMac will now occupy 51,000 square feet of space, up from its previous lease of 30,000 square feet.
"AnnieMac's management has successfully grown its footprint in the U.S. to over 50 branch locations, which has necessitated its need to expand its operations at its headquarters," Frank D. Recine, executive managing director at NGKF said in a prepared statement. "The ownership, Brandywine Realty Trust, has accommodated AnnieMac's expansion at 700 East Gate Drive during each step of the process.”
Recine represented AnnieMac in the deal and also exclusively represents the tenant nationally, the firm said. Brandywine Realty Trust was represented in-house by Larry Maister during the negotiations. Financial terms were not disclosed.
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