Transwestern says that nearly 1 million-sf of property will be involved in the disposition, including the former G.D Searle headquarters building on Old Orchard Road just off the Edens Expressway. "Transwestern will provide a variety of corporate advisory services, including strategic planning, marketing, leasing and sales," says Phil Utigard, the Transwestern executive who will be handling the Pharmacia account. Merle Ocken, site consolidation leader at New Jersey-based Phamacia, says he expects the planning phase of the process will be complete in 45 days.
The sites involved are the twin, 7-story, 365,000-sf headquarters buildings, 250,000-sf and 110,000-sf buildings on Searle Parkway, 190,000-sf of leased space in three separate locations and three acres of vacant land adjacent to the headquarters buildings.
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