S hopping C enters N ew J ersey
Mid Atlantic Real Estate Journal — New Jersey — Section B Office transaction marks one of the largest in the state this year Babikian & Godau of CBRE Group Inc. complete 377,000 s/f sale in Parsippany, NJ
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their current headquarters in Wayne. GAF, NorthAmerica’s largest roofing manufacturer, will be consolidating its opera- tions frommultiple individual buildings on a 99-acre campus to one stand-alone headquar- ters in Parsippany. GAF’s approximately 600 employees working at the company’s cur- rent headquarters in Wayne are expected to transfer to the new location. “GAF was looking to consoli- date to a more efficient and vi-
ARSIPPANY, NJ — CBRE Group, Inc . announced that it has
completed the sale of One Campus Drive, a 377,000 s/f office building in Parsippany for an undisclosed price. The sale marks one of the largest office building transactions in the state this year. CBRENew Jersey’s Jeffrey Babikian , executive vice pres- ident, and Brian Godau , vice president, represented GAF , who will be relocating from
One Campus Drive
brant environment which pro- motes an improved workplace for its current and future workforce,” said Babikian. “One Campus Drive offers GAF that and more, including easy accessibility and promi- nent visibility in the heart of the Parsippany office market in a headquarters campus environment.”
One Campus Drive is the cornerstone of a 600-acre business campus located at Routes 10, 202 and I-287. The facility offers three sepa- rate wings that open onto a three-story atrium, which is highlighted by its domed skylight. “Our offices inWayne, as well as this community, have been
terrific for us for many years, and leaving here will be dif- ficult,” said Bob Tafaro , GAF president and CEO. “However, we are excited to begin the next chapter of GAF in our new state-of-the art headquarters in Parsippany, which will allow us to better service our custom- ers and to continue expanding our business.” n
January 17 - 30, 2014
HI-LIGHTS
Cushman & Wakefield inks Mainetti US HQ lease
Cushman & Wakefield represents Valeant Pharmaceuticals Int’l. SJP Properties signs 310,000 s/f, full-building lease in Bridgewater
Mainetti, has relocated its United States headquarters to 110,000 s/f at 300 Mac Lane in Keasbey, announced Cushman & Wakefield, Inc. See page 3B.
BRIDGEWATER, NJ — SJP Properties announced that Valeant Pharmaceuticals International, Inc., has signed a long-term, 310,000 s/f lease to occupy the entirety of Som- erset Corporate Center IV within SJP’s premier 2.1 mil- lion s/f, class A office complex in Bridgewater. The new lease will allow Valeant, a multinational pharmaceutical company, to consolidate multiple locations into its newU.S. headquarters at Somerset Corporate Center IV following the company’s recent acquisition of Bausch + Lomb. The company is ex- pected to relocate to Somerset Corporate Center IV starting in the first quarter of 2014. Due to SJP’s construction ex- pertise, Valeant has retained SJP to oversee build-out of its new headquarters. Somerset Corporate Center IV is one of five buildings within the Somerset Cor- porate Center campus that boasts high-performance, energy-efficient and environ-
Keystone Property Group announces 74,300 s/f lease
Key s t one Pr ope r t y Group announced it com- pleted a 74,258 s/f lease with Destination Mater- nity Corp. at Moorestown Corporate Ctr. Jones Lang LaSalle represented tenant. See page 5B.
Somerset Corporate Center IV rendering
ALSO INSIDE:
mentally responsible build- ing systems that produce low emissions and optimal indoor air quality to deliver a healthier work environ- ment. One of SJP’s signature developments, Somerset Cor- porate Center is in proximity to both Newark International Airport and New York City. The campus offers access to public transportation, includ- ing NJ TRANSIT service via
a shuttle to the Somerville train station just four miles from the campus. The Cushman&Wakefield team of director Greg Ficke , executive vice president Da- vid Sherman and senior director Harlan Hollander represented Valeant in the transaction. SJP was repre- sented in house by executive vice president Jeff Schotz and senior vice president Pe- ter Bronsnick. n
S outhern N ew J ersey S potlight ......................5-11B SNJ AI ..............................................................10-11B P eople O n T he M ove ............................................16B ICREW NJ.........................................................IBC-B
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