Lincoln Property Co. vice president Rick Genthe was the in-house leasing agent for owner 9 Entin Road Investors LLC, a joint venture between Lincoln and a fund advised by the US real estate business of UBS Global Asset Management. Daiichi Sankyo was represented by James Garibaldi, CEO, F. John Fatigati, SVP and managing director, and associate VP of the Garibaldi Group of Chatham, NJ. Terms were not released.
As reported by GlobeSt.com, the Lincoln/UBS partnership bought the building a year ago from Hartz Mountain Industries for $26.8 million, or about $136 per sf. The three-story asset, located within the Mack-Cali Business Center, was approximately 50% occupied at the time of sale, and besides Daiichi Sankyo its major tenants are AIU Insurance Co. and Emerson Radio.
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