Cushman & Wakefield Announces 154,035-Square-Foot Lease by inVentiv Health in Somerset, NJ
13 Jan, 2009, Somerset, NJ
Jones Lang LaSalle and Cushman & Wakefield today announced that inVentiv Health, a leading provider of commercialization services to the global pharmaceutical and healthcare industries, has secured a lease for 154,035-square-feet at Atrium Corporate Park in Somerset, N.J. The transaction represents one of the largest new office leases in New Jersey in the past three years.
The relocation to 500 Atrium Drive will enable inVentiv Health to consolidate four office locations in New Jersey and will also accommodate inVentiv's plans for continued growth. The company expects to take occupancy in July 2009.
"The move to a new headquarters is very consistent with our overall business strategy," said Terrell Herring, President and COO of inVentiv Health. "By consolidating four offices into one building, we will create efficiencies that will result in long-term savings."
Cushman & Wakefield's Walter Schoenberg, senior director, brokerage services, and
Christopher Kinum, executive director of Cushman & Wakefield's
Global Life Science Practice, represented inVentiv Health in the transaction.
The leasing team of Susan Mason, senior vice president; Thomas Reilly, executive vice president; and Brian Cass, vice president, of Jones Lang LaSalle's Parsippany office represented the owner, LaSalle Investment Management. Jones Lang LaSalle is the exclusive leasing agent and property manager for Atrium Corporate Park.
"Atrium Corporate Park's ability to consistently attract notable, high-profile tenants such as inVentiv is a reflection of its world-class amenities, strategic location and flexibility in space solutions," Mason added. "These factors contribute to its reputation as one of the finest campuses in Central New Jersey and its track record of outperforming the local real estate market."
"We are pleased that we were able to meet inVentiv's requirements for high- quality space with expansion capabilities," said Harlan Stanley, managing director, LaSalle Investment Management, Inc., and chief operating officer of LaSalle Income and Growth Fund IV, the owner of Atrium Corporate Park. "As an institutional owner, our financial strength, our ability to respond quickly to tenant needs and our ability to offer Class A space at a value price enables us to complete transactions of this size and term," continued Stanley.
Atrium Corporate Park is a four-building complex containing 900,000 square feet of Class A office space located directly off Davidson Avenue in Somerset. It offers an array of amenities including complimentary use of its conference center and fitness center as well as a full-service hotel and banquet facilities and nearby daycare centers, restaurants, hotels and shopping.
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