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Global pharmaceutical company leases 75,500 SF at 107 College Road East and 31,000 SF at 303 College Road East for North America headquarters, laboratory space
PARSIPPANY, NJ, April 10, 2013 — Jones Lang LaSalle has completed a new, direct lease for 106,500 square feet of office and laboratory space for Dr. Reddy’s Laboratories Inc. with National Business Parks Inc. in Princeton, N.J. The global pharmaceutical company signed a long-term lease for the entire 75,500-square-foot, Class A 107 College Road East and 31,000 square feet at the 61,792-square-foot, Class A 303 College Road East.
The tenant, Dr. Reddy's Laboratories, was represented by Shawn Straka and Steve Fleming, senior vice presidents; and John Buckley, senior associate, all with JLL. The building owner, National Business Parks, was represented in-house by Vince Marano, COO, and Tom Stange, leasing director.
JLL’s Project and Development Services group was also selected by Dr. Reddy’s Laboratories to oversee construction efforts at the firm’s new premises. Steve D’Amico, project manager, will oversee project management services for JLL.“The location of its new headquarters, and research and development facility was a critical and essential aspect of the decision-making process for Dr. Reddy’s Laboratories,” said Straka. “The National Business Parks facilities were an ideal fit for the company, and the Princeton location was an added attraction.”
Dr. Reddy’s Laboratories will occupy the entire building at 107 College Road East, which will serve as the firm’s North America headquarters. The global pharmaceutical company will also occupy 31,000 square feet of office and laboratory space at the single-story 303 College Road East, which will accommodate the firm’s newly established R&D group. Dr. Reddy’s Laboratories is relocating to Princeton from its previous offices at Somerset Corporate Center in Bridgewater, N.J.
About Dr. Reddy’s Laboratories Dr. Reddy’s Laboratories (NYSE: RDY) is an integrated global pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses — Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products — Dr. Reddy’s offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars, differentiated formulations and NCEs. Therapeutic focus is on gastro-intestinal, cardiovascular, diabetology, oncology, pain management, anti-infective and pediatrics. Major markets include India, USA, Russia and CIS, Germany, UK, Venezuela, S. Africa, Romania, and New Zealand. For more information, log on to: www.drreddys.com.
About Jones Lang LaSalleJones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet. Its investment management business, LaSalle Investment Management, has $47.0 billion of real estate assets under management. For further information, visit www.jll.com.
George Shea, Mark Faris - Shea Communications