Real Estate Strategies Corp. president and CEO Andrew Zezas,SIOR, represented Meda in the transaction, while GVA Williamsrepresented building owner Koll Bren Fund. The fund is managed byKBS Realty Advisors.

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"Meda Pharmaceuticals' management team sought an opportunity toprotect the company against the current downward trending economyand recognized the opportunities associated with renegotiatingtheir US headquarters lease," says Zezas. "We partnered with Meda'smanagement team to plan and execute a real estate transaction thatwould be aligned with the company's financial and operationalobjectives, and as a result, we achieved substantial seven-figurenet present value financial benefits for Meda."

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Built in 1985, the building is situated on 15 acres with easyaccess to the New Jersey Tpke. and Garden State Pkwy. Medacurrently occupies floors three and four of the four-story,178,000-square-foot class A property, whose other tenants includearchitectural firm Greenberg Farrrow and retailer/wholesaler ThermoFinnigan Corp. While the company would not release specificfinancial details, annual rents range from $17 per square foot to$22.50 per square foot.

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