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Pharma Manufacturer Inks Full-Building Lease in 8A Submarket
Cushman & Wakefield orchestrated a full-building, 233,000-square-foot lease at Matrix Development Group’s 270 Prospect Plains Rd. in Cranbury, NJ, within the Exit 8A industrial submarket. CMIC CMO USA, a contract manufacturer serving the pharmaceutical industry, has committed to the property on a long-term basis and will use it for office, research and development, production, packaging, manufacturing, warehousing and distribution.
The deal involved negotiating a lease termination with an existing tenant, Sun Pharmaceutical, and arranging for the purchase of in-place research and development infrastructure.
CMIC CMO was represented by Cushman & Wakefield’s Shawn Straka and Chuck Fern, with their colleagues Todd Elfand, Jason Barton, Thomas D. Tucci, Stephen Shoemaker, Paul Giannone, Kevin Carton, Jaclyn Marques, Elizabeth Rouse and Joseph Vacca. Matrix Development’s VP of acquisitions, Gary Hans, represented ownership.
“The cooperation of three entities – Matrix, Sun Pharmaceutical and CMIC CMO USA – was critical to the success of this transaction,” said Fern.
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