The sublessor is PNC Bank, which inherited the space early this year when it acquired United National Bancorp. The building, located near both I-287 and I-78, had been used as the corporate headquarters for United National's UnitedTrust Co. operating division, and became excess space post-merger.
Shortly after the merger, PNC gave GVA Williams of NJ, Parsippany, the assignment to find a new occupant. In the latest transaction, that firm's president David Simson, first vice president Jim Hersh and associate Tom Rapone repped PNC. Ortho-McNeil was represented by Michael Markey and John Tesser of Colliers Houston & Co., Teaneck. Terms of the sublease were not disclosed.
"The 287/78 corridor continues to experience demand from the pharmaceutical sector," Simson says. Indeed, as reported by GlobeSt.com, earlier this month French pharma giant Sanofi-aventis signed a lease for 670,000 sf at the Gale Co.'s 55 Corporate Dr. here, representing all of a former AT&T campus. Sanofi-aventis will move its US headquarters to the site over the next year.
Ortho-McNeil, a Johnson & Johnson company, was created in 1993 by the merger of Ortho Pharmaceutical Corp. and McNeil Pharmaceutical. The company has its corporate headquarters in nearby Raritan.
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