"The building represents the next generation for the Exit 8Aindustrial market," says Stan Danzig of Cushman & Wakefield'sEast Rutherford office, who co-brokered the deal with colleagueJules Nissim and the firm's Metropolitan Area Capital MarketsGroup. "In its heyday, the original Carter Wallace campus was amajor force in the pharmaceutical and consumer products market.

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"It was one of the first major industrial developments in theExit 8A market," Danzig says. "Today, it is among the firstindustrial sites to be redeveloped into modern, state-of-the-artdistribution space."

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Originally a research and manufacturing campus for CarterWallace, the overall 115-acre site became the property of Church& Dwight in 2000 when that company bought Carter Wallace'sconsumer products division. Church & Dwight put it on the market assurplus property in 2002, subsequently selling a 55-acre parcel toRGDC. Two other parcels were sold to the J.G. Petrucci Co., and afourth remains in Church & Dwight's hands, utilized as aresearch center. Both Danzig and Nissim brokered the multiplesales

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RGDC and new partner IDI started construction for 324 Half AcreRd. in early 2006 on the 55-acre parcel,after demolishing obsolete lab, office and manufacturing buildings,and in 2007 signed logistics company Kuehne & Nagel Inc. to alease for 443,803 sf. The237,000-sf balance remains available. With FTZ status andvisibility from the NJ Turnpike, that space is currently listedwith an asking price of $5.25 per sf.

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"The building not only attracted a major international tenant,but also a reputable new owner whose move into the Exit 8A marketreflects the region's continued appeal for investors," Nissim says."It's gratifying to see the property succeed in its seconditeration."

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