WEST ORANGE, NJ-A private investor group headed by Prism Capital Partners of Englewood, NJ has acquired three buildings totaling 60,000 sf from Organon USA. The buildings are on five acres of the pharmaceutical company's former headquarters and manufacturing campus here.
The sale was arranged for Organon USA, a business unit of the Pharma division of the Netherlands-based Akzo Nobel NV, by Real Estate Strategies Corp. of Kenilworth, NJ. The sale price was not released.
"Organon's West Orange facility had operated as the company's US headquarters since coming here in 1960," says Andrew B. Zezas, president of Real Estate Strategies. "As their US business grew, the company expanded and purchased more property in West Orange, including the three-building parcel that has been sold."
As reported by GlobeSt.com, Organon bought a 440,000-sf building from Prudential in Roseland, NJ more than four years ago, and began moving employees to the site. Since then, the company closed down its manufacturing facility here, moved most of its operations to the Roseland location and put most of the local campus on the market as surplus property. The company's remaining holdings here remain on the market, including a 50,000-sf office building and a 175,000-sf manufacturing building on 14.5 acres.
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