Wells Real Estate Investment Trust Inc. announced Monday it has signed a new, extended lease with Polo Ralph Lauren Corp. for its offices in Lyndhurst, N.J.
The new lease runs through 2019.
Polo Ralph Lauren, which sells clothes and fragrances, occupies more than 60 percent of the Copper Ridge Center building at 9 Polito Drive, in Lyndhurst, part of Northern New Jersey’s Meadowlands submarket. The 10-story, 268,000-square-foot, class A office building was built in 1989, and acquired by Wells REIT in 2003. Polo has been a tenant since 1992.
“Polo Ralph Lauren is among the unquestioned leaders in its industry, and we’re very pleased to help serve their real estate needs for another 13 years,” said George Wells, senior vice president of Wells Real Estate Funds, who participated in the transaction along with associate asset manager Kevin Pell.
Wells REIT is a public, nontraded REIT specializing in office properties nationwide.