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Pharma Firm Does Quick Relocation

PARSIPPANY, NJ-With a lease set to expire and a need for more space, Wockhardt USA LLC made a quick move here from Bedminster.

By Maria Wood | Updated on March 16, 2009

PARSIPPANY, NJ-Wockhardt USA LLC, a subsidiary of India-based pharmaceutical and biotechnology company Wockhardt Limited, has relocated to 12,000 square feet at the Waterview Corporate Center here. The company is relocating its regional headquarters from Bedminster.

Negotiating for the tenant was John P. Feeney, a managing director for Studley. He tells GlobeSt.com that his team was given little time to find new digs for the global pharma company. “My first conversation with them was at the end of September or the beginning of October,” he says. “They had a January 22nd lease expiration. In the world of real estate, it was pretty late.” The tenant signed a sublease for four-and-a-half years, which represents the balance of the existing lease term originally signed by Clifton-based healthcare-packaging company Cortegra at 20 Waterview Blvd.

According to Feeney, Wockhardt had outgrown its Bedminster office, which spans about 4,000 square feet. Further necessitating a move was the fact that the landlord had already lined up a tenant for the firm’s former space.

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