MADISON, NJ-Pharmaceutical firm Pfizer Inc. has sold its office campus here to Lincoln Equities Group and an investors group led by Lakestar Properties.
The Pfizer campus is located at 5 Giralda Farms and totals 463,000 square feet, according to NJBiz. The campus once housed the pharmaceutical giant’s animal health unit. No terms of the transaction were reported.
Jones Lang LaSalle, which represented Pfizer in the transaction, also arranged approximately $70 million in financing for the purchasers from NorthStar Realty Finance. The JLL team representing Pfizer included Joseph Garibaldi, managing director; VP Thomas Walsh; and
Daniel Loughlin, international director and broker lead in New Jersey for JLL. Lincoln Equites was represented in-house by president Joel Bergstein and Mark Lipner, director of acquisitions.
Following the acquisition, Lincoln Equities named Jones Lang LaSalle as co-leasing agent for the property. The leasing assignment will be led by Loughlin and Garibaldi, and the team also includes VP Fred Hyatt and associate Brian Gropler, both with JLL; along with Kenneth Flynn,
senior director of leasing at Lincoln.