Mid Atlantic Real Estate Journal — New Jersey — December 7 - 20, 2012 — 9B
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N ORTHERN N EW J ERSEY
ARSIPPANY, NJ — EBI, LLC, a subsidiary of medical device and Andrew Schiffer and Robert Rudin Cushman & Wakefield, Inc. represents owner Biomet leases 102,000 s/f at Prism Capital Partners’ 399 Jefferson in Parsippany P
399 Jefferson Rd. Diaz credits all parties involved in the transaction for its successful outcome. “This was a complex process, but the result could not be more gratifying,” he said. “It always is great to sign a lease, and even better when it involves such a large amount of space and a vener- able tenant like Biomet.” Prism Capital Partners’ involvement in 399 Jefferson Rd. began in 2003, when the Bloomfield real estate owner/ operator purchased the prop- erty as one of its first assets. At the time, the building was
fully occupied. When the sole tenant opted not to renew its lease, Prism chose to sell the property in 2006. The company that bought the building never moved in, and it returned to the market in 2010. “When 399 Jefferson Rd. came online, we bought it again for the very same rea- sons that drew us in the first place,” said Prism’s Edwin Cohen , sprincipal partner. “This is a quality property in an A+ market, supported by excellent accessibility two blocks from a four-way inter- change of I-80.” ■
implant manufacturer Biomet Spine & Bone Healing Tech- nologies signed a 102,000 s/f lease at 399 Jefferson Rd., announced Prism Capital Partners, LLC , which owns the class A office property. The transaction brings the property’s existing 180,000 s/f of space to 100% occupancy and involves a 28,000 s/f build- ing expansion. 399 Jefferson Rd. will serve as the headquarters for Biom- et Spine & Bone Healing Tech- nologies, a division of Biomet, Inc. Prism Capital Partners is fitting out the existing space and building the addition to meet the company’s require- ments, which include R&D laboratories, offices, medical conference rooms, breakout meeting areas and an employ- ee lunch area, among other custom accommodations. According to Prism’s Eu- gene Diaz , principal partner, a compressed timeframe ne- cessitated that Prism launch construction prior to the lease signing. “We have been working quickly in anticipation of Biomet’s occupying 25,000 s/f of R&D space,” he said. “The company will move into the balance of the existing build- ing in February. The addition – for which we just received final site plan approvals last week – will be completed by July.” “We are very pleased to make this investment and provide Biomet Spine & Bone Healing Technologies team members with a state of the art facility in a convenient location,” said Adam Johnson, president of Biomet Spine & Bone Healing Technologies. “We are adopting an open plan designed specifically to encourage a collaborative working environment. Our new building will offer sur- geons a first-class educational experience, which will include a hands-on lab, engineering and testing labs, surgeon lec- ture hall, as well as surgeon training and meeting rooms. We are planning to move into this exciting new space during the coming months.” AndrewSchiffer and Rob- ert Rudin from commercial real estate services firm Cush- man & Wakefield, Inc. rep- resented Biomet in its lease at
399 Jefferson Road
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