2 Clarke Drive, Cranbury, NJ
CRANBURY, NJ—Contract pharmaceutical supply services organization Experic has leased 45,500 square feet at 2 Clarke Drive in Cranbury, a class A research and office facility. The location meets the clinical and marketed product manufacturing, research and development, packaging and distribution needs of the swiftly growing firm.
Cushman & Wakefield's leasing specialists Todd Elfand and Jason Goldman, based in the commercial real estate services firm's Iselin, NJ office, represented Experic in negotiating the long-term lease.
“The biotech and pharmaceutical industry is resurging in New Jersey, with contract manufacturing and packaging activities expanding as a result, and our client's business is growing exponentially with it,” says Elfand. “The Lab/R&D market in NJ has improved dramatically over the last few years as vacancy has declined from 21.1% at the close of 2016 to a mere 10.9% currently. As a result, asking rents over the last few years have climbed by 6.6% in that time and has risen each year since 2015. It has become more challenging to find large blocks of available, quality lab space. The lease at 2 Clarke Drive not only met Experic's current size needs, but offers enough room to accommodate the company's expansion.”
The location at The Cedar Brook Corporate Center, an office and life sciences campus located just off Exit 8A of the New Jersey Turnpike, offers high end lab/manufacturing space in a campus setting, loading capabilities, convenient access to top tier talent in and around the Princeton submarket, and close proximity to New York, PA and other key areas to attract as well as service the current and future client base.
“It was a good fit, and the landlord, Cedar Brook, along with Experic principals Eric Bergmann and Jeff Shane, worked diligently with our team to get the deal done,” says Goldman. “Experic is at the forefront of its industry and will continue to thrive and expand.”
Experic provides clinical trial materials solutions and specialty commercial product services to the pharmaceutical industry, with a specialized focus on the needs of small, midsized and specialty drug developers.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
