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Forest Research Leases 36,000 SF

JERSEY CITY-The Forest Labs subsidiary now occupies nearly 216,000 sf at Mack-Cali's Harborside Plaza 5 building.

By Eric Peterson | Updated on October 02, 2008

JERSEY CITY-Forest Research Institute Inc., a subsidiary of New York City-based pharma giant Forest Laboratories, has signed a new nine-year lease for 35,587 sf at Mack-Cali Realty Corp.’s Harborside Financial Center Plaza 5 on this city’s waterfront. The signing boosts Forest Reseach Institute’s headquarters occupancy to a total of 215,659 sf at the 977,225-sf class A building.

As part of the deal, Forest Labs will give back 22,785 sf at the nearby Harborside Financial Center Center Plaza 3, which would have expired in approximately 18 months. The company’s most recent deal at Harborside 5 came in 2005 when it boosted its then-presence to 180,000 sf with a 36,452-sf lease for 12 years. The research division’s presence at Harborside dates to early 2002 when in two separate leases it took a total of 143,000 sf in a headquarters move across the river from Manhattan. The multiple leases at Plaza 5 are now all set to run concurrently.

“We’re delighted that Forest Research Institute has expanded its presence while consolidating at this waterfront office tower,” says Mitchell Hersh, president and CEO of the Edison, NJ-based Mack-Cali, in a statement. “Harborside Financial Center continues to attract and retain leading businesses from a diversity of industries.”

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