Forest Labs' Leases Now Total 143,000 SF

Now, the drugmaker has nearly doubled its presence in the sprawling Harborside complex on the Hudson River, directly across from Lower Manhattan. Forest Labs has just taken an additional 71,190 sf, signing two separate lease transactions to raise its occupancy at the 980,000-sf Harborside Financial Center Plaza 5 to some 143,000 sf on four floors. The two separate recent transactions amounted to 35,505 sf and 35,685 sf respectively.

Arthur Rosenbaum, vice chairman of Newmark & Co. Real Estate of New York, and Seena Stein and Richard Madison, both principals in the Rutherford, NJ office of Newmark JGT, represented Forest Labs in all three transactions, which combined represent a sizable corporate-level expansion for the firm.

"We are pleased to have been able to meet the ongoing strategic real estate requirements of Forest Laboratories," according to Stein. "These transactions also demonstrate the confidence of another leading corporation in the Jersey City marketplace."

Forest Labs is a $1.2 billion-a-year pharmaceutical company that develops, makes and sells branded and generic drug products, both prescription and for over-the-counter sale, for the treatment of a wide range of illnesses. The company's various products are marketed principally in the US and Europe, both by the company itself and through independent distributors. Forest, of course, joins a long list of pharmaceutical companies with a major presence in the Garden State.

Among the company's branded products are Celexa, which is a treatment for depression; and Aerobid, an anti-inflammatory inhaler. Tiazac, meanwhile, is used to treat hypertension; and Infrasurf is a treatment for infant respiratory problems.

With offices in Rutherford and Woodbridge, NJ, Newmark JGT is part of Newmark & Co. Real Estate.