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Johnson & Johnson Leases 112,000 SF

MONTGOMERY TWP., NJ-The pharmaceutical giant will use the space at 23 Orchard Rd. to expand its consumer products division.

By Eric Peterson | Updated on April 07, 2008

MONTGOMERY TWP., NJ-Johnson & Johnson, the New Brunswick-based pharmaceutical giant, has leased 112,000 sf of office space at 23 Orchard Rd., a three-story, 238,000-sf class A building in this township’s Skillman section. The location is just north of Princeton. According to company officials, they opted for the site because it’s close to other J&J facilities in the region, and the space will be used to expand the company’s consumer products division.

Both J&J and owner JER/Herring Orchard LLC, a joint venture of JER Partners of McLean, VA and the Princeton-based Herring Management Inc., were represented by brokers from Colliers Houston & Co. Terms were not released; the remaining availability of about 100,000 sf, divisible to 6,000 sf, is currently listed with an asking price of $23.75 per sf.

“Johnson & Johnson has leased approximately half the space at 23 Orchard,” confirms Alex Gilbert, managing director of US Funds Investment Management for JER Partners. “This reflects the inherent strength and growth in the local market, the location of the asset and the job Herring Management has done with the property renovations.”

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