Schering-Plough Subleases 50,000 SF

CRANFORD, NJ-Pharmaceutical giant Schering-Plough has signed a sublease for 50,000 sf at 750 Walnut St. here. The property is owned by Hartz Mountain Industries of Secaucus, NJ.

The deal was arranged on behalf of the tenant by James Postell, senior vice president, and David O’Sullivan, vice president, of the Trammell Crow Co. The Texas-based real estate firm has its New Jersey offices in Florham Park. Further details of the transaction were not released.

Schering-Plough will utilized its newly occupied space, formerly a back office location for Summit Bank, for office purposes. For its part, TCC has in recent years developed a track record of assisting a number of companies in the pharmaceutical and biotech industry sectors.

750 Walnut St. is a 442,060-sf office building located just off the Garden State Parkway in Union County. The facility, which is situated in a campus-style configuration, recently received a new façade.