A continued period of growth required Rising Pharmaceuticals to seek a larger headquarters office, according to Cushman & Wakefield’s Ben Brenner, who represented the company in its site search and long-term lease with Todd Elfand. “Rising Pharmaceuticals wanted to capitalize on its growth and lease expiration to leverage it as an opportunity to establish a modern, contemporary work environment for its employees,” Brenner noted. “After a multi-market site search, Park 80 West became the clear favorite. The ownership – CBRE – recently completed a $11 million dollar capital improvement program of the asset, which included substantial amenity upgrades.”
Rising Pharmaceuticals is the finished dosage form generics subsidiary of ACETO Corporation (NASDAQ:ACET), an international company engaged in the development, marketing, sale and distribution of human health products, pharmaceutical ingredients and performance chemicals. ACETO sells generic prescription products and over-the-counter pharmaceutical products under its Rising label to leading wholesalers, chain drug stores, distributors and mass merchandisers, according to a recent company news release.
“Rising Pharmaceuticals is a world-class organization, and we were honored to represent the firm in its renewed commitment to doing business in the State of New Jersey,” noted Brenner, who added that “this transaction reinforces the fact that commercial property owners who reposition their assets into state-of-the-art, forward-thinking office environments are undoubtedly best positioned to secure NJ’s most exciting companies.”
Evelyn Weiss Francisco
evelyn ( @ ) caryl dot com
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow ( @ ) CushWake on Twitter.
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