Mid Atlantic Real Estate Journal — March 16 - 29, 2012 — 3A
www.marejournal.com
M ID A TLANTIC R EAL E STATE J OURNAL Division of Houlihan-Parnes Realtors, LLC GHP Office Realty handles 123,000 s/f lease renewal
They wrote the policy.
We make sure they write the check.
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OCKLEIGH, NJ — GHP Office Realty rep- resented the owner in
completing one of the largest office leases in the state of New Jersey in 2012, a 123,000 s/f office and laboratory renewal and expansion at 8 King Road in Rockleigh. The tenant, Spectra East is a division of Fresenius Medical Care Holdings, Inc, which is the world’s largest integrated dialy- sis company. The 8 King Road location is the East Coast execu- tive headquarters for Spectra East and the only laboratory and testing facility serving the entire eastern half of the United States. After searching the entire tri state region for a newer location, Spectra determined that its in place state of the art infrastructure and world class wet laboratory remained its most attractive option. Their against the subtenant in the event of breach. There are many different practical and legal consider- ations involved in negotiating and documenting the terms of an assignment or sublease in- continued from page 2A
M. MILLER & SON Public Adjusters Since 1960
1211 Liberty Ave., Hillside, NJ 07205 ● Tel: 908-355-4800 adjuster@mmillerson.com ● www.mmillerson.com
8 King Road
grow to over 600 people within the next few years. 8 King Road was purchased by the principals of GHP Office Realty and a group of private investors in 2000. The property has 190,000 s/f and 800 parking spaces. The property boasts two back-up generators, abundant and multiple sources of power and state of the art fiber optic systems. The building has lim- ited availability of space. ■ quences of such transactions and their competing interests are protected. Barbara Anisko is a prin- cipal of Kaplin Stewart in the Business & Commercial Litigation Department. ■
ability to maintain their edu- cated and highly skilled work force, abundant parking, and access to public transportation all proved a compelling com- bination to renew and expand at 8 King Road. The building’s ready ability to handle a 10,000 foot expansion helped clinch the renewal at 8 King Road. Spectra East currently employs over 500 people at the site and expects the number of employees to cluding the legal consequences to the tenant under the assign- ment or sublease if landlord ter- minates the lease. Therefore, an experienced real estate attorney should be consulted so that the parties understand the conse-
Recent Financings Arranged By Meridian Capital Group
A tenant’s right to assign. . .
Hunters Glen 1,124 Units $49,000,000 Delran, NJ
Steward’s Crossing 241 Units $27,200,000 Princeton, NJ
Thursday March 29, 2012
The Franklin Institute Now in its second year, this event brings together industry, university and community leaders to share best practices, ask challenging questions and provide cutting edge information about sustainability in the Delaware Valley.
Nationally Acclaimed Keynote Speakers:
West Creek Village 306 Units $16,000,000 Elkton, MD
Woods at Narraticon 150 Units $16,950,000 Deptford, NJ
15 Panel Discussions: Covering diverse topics, such as energy management systems, community engagement, building retrofits, starting a sustainable business, electric cars, LEED/Energy Star issues and more. · Panelists include Kevin Kampschroer, Director of High Energy Buildings for GSA; Judy Wicks, Founder of BALLE; Rob Watson, a founder of LEED; Leisha John, Americas Director of Environmental Sustainability at Ernst and Young; Audrey Zibelman, CEO of Viridity and other industry and thought leaders
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Industry Partners:
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