The location has been Pharmacopeia's headquarters for a number of years, and "renewing the lease early allowed the company to remain at a desirable location at a rate reflective of the current market conditions," according to Studley SVP Thomas V. Giannone. Giannone and corporate managing director Ronald Ganter repped the tenant, while property owner Eastern Properties was represented in-house.
In a separate transaction, Giannone and Ganter arranged an additional 12-year lease for 18,191 sf of R&D space for Pharmacopeia at the adjacent 1000 Eastpark in a move to consolidate its operations at the location. The tenant will move those functions in from another New Jersey facility. The property owner was again represented in-house.
The third transaction involves Transave Inc. which, similarly represented by Giannone and Ganter, took 10,524 sf at 7 Deer Park Dr. in Monmouth Junction, NJ. The long-term lease will more than triple the company's office and lab space, moving Transave from another space in the office park. Owner Princeton Corporate Plaza LLC was represented in-house.
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