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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.
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.
Cushman & Wakefield reports that the recent signing of two anchor tenants at the property are clear signs that the rebranding initiative at the property is paying dividends.
Industrious' Chicago Ogilvie operations at the 1.46-million-square-foot building at 500 West Madison St. will increase from 46,500 square feet to 93,000 square feet, due to what the company states is "overwhelming consumer demand."