The expanded space serves as the company's US corporate headquarters and home to Warner Chilcott Inc., its wholly owned US subsidiary. Based in Craigavon, Northern Ireland, Galen Holdings is a specialty pharmaceutical company focused on women's healthcare and dermatology. The company develops, makes and supplies its products in the US, the UK, Canada, Mexico and Ireland. Warner Chilcott markets Galen's branded pharmaceutical products in the US.
"This office space renewal exemplifies our company's continued growth and position in the women's healthcare industry, and our commitment to the State of New Jersey," says William Poll, Galen's senior vice president of finance, who notes that during fiscal year 2003 the company experienced a 46% revenue growth over the previous year.
"This transaction further solidifies the significant role New Jersey plays in housing the major players in the pharmaceutical industry," Poll adds.
The tenant was represented in the transaction by F. John Fatigati, senior vice president and managing director for the Garibaldi Group/Corfac International of Chatham, NJ. Lincoln Equities Group, the Rutherford, NJ-based owner of Rockaway 80 Corporate Center, was represented in-house in the negotiations. The asset, located just off of I-80 in North Jersey's Morris County, is a 250,000-sf, seven-story office complex built in 1991.
Other major tenants at Rockaway 80 Corporate Center include the publishing company Reed Elsevier Inc., which last year signed a new lease for nearly 50,000 sf. The company moved here from another North Jersey location.
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