The global consumer products supplier took initial occupancy andthen arranged a sale and exchange of title to New York LifeInsurance Co. for $36.18 million.

Subsequently, New York Life leased the facility back to ReckittBenckiser. The rental rate was not disclosed, but it is estimatedto be in the range of $$3.90 to $4.20 per sf, according research.

The Parsippany, NJ office of New York-based GVA Williamsrepresented Reckitt Benckiser in the complex transaction fromacquisition of the land through the sale-leaseback negotiations.The GVA team included Joe Boiseau and David Simson, director andpresident, respectively, of the New Jersey office.

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