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Novo Nordisk HQ Lease Spears $215M Rehab of 800 Scudders Mill Rd.

PLAINSBORO, NJ-The deal is the biggest commercial real estate transaction in New Jersey this year, say partners Ivy Equities, LCOR and Intercontinental Real Estate Corp.

By Debra Hazel | Updated on August 02, 2011

PLAINSBORO, NJ-Novo Nordisk and a joint venture led by Ivy Equities and LCOR in partnership with Intercontinental Real Estate Corp. will undertake a $215 million redevelopment of a 770,000-square-foot office building at 800 Scudders Mill Road at Princeton Forrestal Center here. It is the largest commercial real estate transaction in New Jersey this year, the companies say.

The building will serve as the new US headquarters for the Danish pharmaceutical company, which will relocate from 100 College Road West in Princeton when the redevelopment is complete in 2013. “This is not a consolidation, this is an expansion,” says Anthony P. DiTommaso, Jr., co-CEO of Montvale, NJ-based Ivy Equities.

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