Newmark Grubb Knight Frank (NGKF) is pleased to announce that its Northern New Jersey office has been nominated for three separate successful transactions for a United Way Commercial Real Estate Network 2017 Impact Award: 56 Livingston Avenue, Roseland; Allergan’s headquarters; and Daiichi Sankyo, USA’s headquarters. Each year the Network selects one team within the commercial real estate industry for the Impact Award, recognizing work on a development project, sale, lease, or other real estate transaction that is considered to have had the most positive impact in the region that year. All three finalists for the 2017 Impact Award involve members of NGKF’s Northern New Jersey office, with the winner being announced at the Network’s Legacy Luncheon on May 19th, 2017.
Vice Chairman David Simson, Senior Managing Director Blake Goodman and Associate Colleen Maguire of NGKF serve as the exclusive leasing agents for the property owned by Mountain Development Corp. and Square Mile at 56 Livingston Avenue in Roseland, New Jersey. In this past year, following the owner’s modernization and repositioning of the asset as a Class A property offering first-class amenities, the NGKF team helped to sign the largest New Jersey law firm to the building. Lowenstein Sandler, also represented by NGKF, leased 170,000 square feet, serving as the new anchor tenant and occupying the entire third floor as well as its own vertical townhouse.
Global pharmaceutical giant Allergan plc (Allergan) relocated its U.S. headquarters to Madison, New Jersey, leasing the entire 431,495-square-foot property at 5 Giralda Farms for a 13-year term. The move consolidated three of Allergan’s existing New Jersey office facilities in Parsippany, Bridgewater and Jersey City, bringing 1,400 employees together in one state-of-the-art headquarters. The NGKF team of Simson, Executive Managing Director Tim Greiner, Director Jamie Ragucci and Associate Director Harrison Russell represented the owner, Lincoln Equities Group, in marketing and leasing the entire building to Allergan which is assured to bring substantial growth to Madison while keeping a significant number of jobs in New Jersey.
In another pharmaceutical relocation, Daiichi Sankyo Inc. moved its new U.S. headquarter facilities to 211 Mount Airy Road in Basking Ridge, New Jersey with a long-term, 305,000-square-foot lease covering the entirety of the three-building campus. Owners Rubenstein Partners L.P. and Onyx Equities worked with NGKF’s Greiner and Associate Director Dan Reider to craft the multi-part deal, which allowed Daiichi Sankyo to consolidate its operations into the single property, while also providing existing tenant, Avaya, a suitable relocation solution. This complex transaction has also been named as a finalist for the NAIOP NJ Deal of the Year which will be announced at the 30th Annual Commercial Real Estate Awards Gala on Thursday, May 11th, 2017.