Real Estate Journal — Healthcare/Medical Office — November 24 - December 7, 2017 — 13A


M id A tlantic

H ealthcare /M edical O ffice

Brenner and Elfand broker 37,000 s/f lease at Park 80 West Cushman & Wakefield represents growing pharma organization in long-term commitment S ment program of the asset, which included substantial amenity upgrades.” and mass merchandisers, ac- cording to a recent company news release.

ADDLEBROOK, NJ — Rising Pharmaceuticals, Inc. has moved into a 37,000 s/f global headquarters lease at Park 80 West in Sad- dle Brook, announced commer- cial real estate services firm Cushman & Wakefield . The generic prescription pharma- ceutical products’ marketing and distribution departments moved into theclass A property at 250 Pehle Ave. from Allen- dale this fall. A continued period of growth required Rising Pharmaceu- ticals to seek a larger head- quarters office, according to Cushman & Wakefield’s Ben Brenner , who represented the company in its site search and long-term lease with Todd Elfand . “Rising Pharmaceuti- cals wanted to capitalize on its growth and lease expiration to leverage it as an opportunity to establish a modern, contem- porary work environment for its employees,” Brenner said. “After a multi-market site search, Park 80 West became the clear favorite. CBRE owns the property and recently completed a $11 million dollar capital improve- NAI James E. Hanson negotiates 10,876 s/f sale Clifton, NJ — NAI James E. Hanson completed the sale of 10,876 s/f of profes- sional space at 1030 Clifton Avenue in Clifton, N.J. NAI Hanson’s Josh Levering, SIOR, and Nicholas DePaol- era represented the seller, Re- alty Investment Associates . 1030 Clifton Ave. is a two-sto- ry, 21,734 s/f office/professional building situated in the heart of Clifton Avenue’s well-known professional corridor. 1030 Clif- ton Ave. is a highly prominent building with an ideal location and size as well as existing tenants have been long-term Clifton businesses. The buyer purchased the entirety of the second floor on a condominium basis and has plans to renovate, upgrade and occupy the space as a medical office. “In today’s market, many smaller business owners are recognizing the advantages of building ownership versus leasing. Especially when mak- ing significant upgrades and renovations to a space for your own business, you can create a long-term appreciable asset,” said Levering. n

Rising Pharmaceuticals is the finished dosage form ge- nerics subsidiary of ACETO Corporation, an international company engaged in the devel- opment, marketing, sale and distribution of human health products, pharmaceutical in- gredients and performance chemicals. ACETO sells gener- ic prescription products and over-the-counter pharmaceuti- cal products under its Rising label to leading wholesalers, chain drug stores, distributors

“Rising Pharmaceuticals is a world-class organization, and we were honored to represent the firm in its renewed com- mitment to doing business in the State of New Jersey,” not- ed Brenner, who added that “this transaction reinforces the fact that commercial prop- erty owners who reposition their assets into state-of-the- art, forward-thinking office environments are undoubtedly best positioned to secure NJ’s most exciting companies.” n

Rising Pharma interior space

NYU - Winthrop University Hospital

SUNY Stony Brook New Medical and Research Translation Building (MART) and Hospital Pavilion

Providing Program & Construction Management and Design Solutions to the Healthcare Industry

Westchester Medical Center

SUNY Buffalo School of Medicine & Biomedical Sciences

St. Francis Hospital

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