Aug
14
Novo Nordisk Jersey HQ Trades for $305M
ByCushman & Wakefield orchestrated the deal, which is reportedly the largest single-asset trade in New Jersey year-to-date.
Novo Nordisk Headquarters, 800 Scudders, Plainsboro, NJ
New York—The North American headquarters of Novo Nordisk at 800 Scudders Mill Road in Plainsboro, N.J., has come under new ownership in the largest single-asset trade in New Jersey year-to-date. Acting on behalf of joint venture partners Ivy Equities, LCOR Inc., and Intercontinental Real Estate Corp., commercial real estate services firm Cushman & Wakefieldorchestrated the sale of the 762,000-square-foot office campus to Korean investment firm Hana Asset Management Co. for $305 million.
“In New Jersey, in spite of mediocre fundamentals in the office sector, sales are robust with significant interest from both overseas and the orthodox community,” Andrew Merin, a vice chairman with C&W, told Commercial Property Executive. “We are well on our way to a record year in office sales.”…
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