The Real Deal New York

Wyndham Worldwide to consolidate headquarters in new NJ office complex

August 15, 2011 04:36PM
By David Jones

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From left: 7 Sylvan Way and 22 Sylvan Way

Mack-Cali Realty said it will build a new 203,000-square-foot office building for Wyndham Worldwide,
a move that will allow the hotel chain to consolidate its Parsippany, N.J.-based headquarters into one
corporate complex.

Wyndham currently operates from its 250,000-square-foot corporate headquarters at 22 Sylvan Way in
Parsippany and a separate 146,000-square-foot building at 7 Sylvan Way. Wyndham will move all of the roughly 700
employees out of the latter building and into the new tower, which is set to debut adjacent to 22 Sylvan
Way by late 2013.

“It was always a planned approach to have the two buildings next to each other,” Wyndham spokesperson
Michael Valentino told The Real Deal.

Construction on the three-story granite and glass tower, designed by HLW International, is expected to be
completed by the first quarter 2013. Wyndham has signed a new l5-year, three-month lease to move the
employees into the new building, which will end at the same time for the current building. The firm did not
disclose any information about rents.

When completed, the new tower will boost Wyndham’s presence on the corporate campus to 453,000
square feet, an increase of 14 percent. The 7 Sylvan Way building, which is also owned by Mack-Cali, will
be leased out separately.

The Edison, N.J.-based real estate investment trust, is one of the largest corporate landlords in the
northeast, with ownership or stakes in 278 properties measuring 32.4 million square feet.

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