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The partnership will redevelop 345 Park Avenue South – a 12-story mixed-use building in the Flatiron District – into an approximate 300,000 square-foot life sciences campus.
The lease expansion was announced by building owner Novaya Foxfield Industrial LLC (Foxfield), the Mid-Atlantic arm of Novaya Real Estate Ventures of Boston. With the new deal, Barry Callebaut now leases 395,000 square feet of space at the 465,680-square-foot building.
The New York City-based firm reports it has recently sold the Skyridge Club Apartments in suburban Chicago and the Sugarloaf Trails Apartments in suburban Atlanta.
Calkain's Q2 Net Lease Overview shows investors taking a hard look at real estate fundamentals, even as property sales continue their increase from the first quarter of 2019.
Although there has been a number of consolidations undertaken by big-pharma companies, the number of small and mid-tier pharma and bio-tech firms in New Jersey continues to climb.