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News release

EAST RUTHERFORD, NJ

JLL Secures 6,428-SF HQ for Pernix at 10 North Park Place in Morristown, NJ

Specialty pharmaceutical company relocates to New Jersey from Texas


EAST RUTHERFORD, NJ, July 7, 2014 — JLL has completed a new lease for Pernix Therapeutics Holdings Inc. at 10 North Park Place, also known as The Park Square Building, in Morristown, N.J. The specialty pharmaceutical company signed a long-term lease for 6,428 square feet of space at the Class A, 95,000-square-foot commercial office building.

Pernix was represented by Chris Conklin, vice president; and Jason Benson, associate, along with Marc Hirschinger and Mark Siegler, executive vice presidents; all with JLL. The building owner, Penobscot Management, was represented by Jon Williams, director, and Joshua B. Cohen, associate director, with Cushman & Wakefield Inc.

“Pernix chose to relocate its corporate headquarters from Houston to Morristown as part of its ongoing effort to improve the efficiency of its operations, and focus on its core sales and marketing strengths,” said Conklin. “We were able to find an ideal location for the firm at 10 North Park Place. The company appreciated the property’s proximity to downtown Morristown and range of amenities as well as its access to the Midtown Direct train line into Manhattan.”

“Establishing Pernix’s headquarters in Morristown continues our efforts to build the firm into a focused specialty pharmaceutical company with an experienced management team that is well-positioned for additional product acquisitions, said Terry Novak, COO of Pernix. ”Pernix signed a long-term lease for 6,428 square feet of office space and will occupy a portion of the second floor at 10 North Park Place, which is located on the historic Morristown Green in downtown Morristown. The specialty pharmaceutical firm relocated to the building from its previous offices in Houston, Texas.

The five-story 10 North Park Place, also known as The Park Square Building, was constructed in 1930 and is located on the north side of the prominent and lively Morristown Green in the heart of Morristown’s central business district. Its location provides immediate access to restaurants, shopping and residential life. The historic building is a short walk to the Morristown station on NJ Transit’s Morristown line and a block from the Morristown Courthouse, the County Seat.

JLL is a leader in the northern/central New Jersey commercial real estate market, with more than 500 professionals and support staff providing agency leasing, tenant representation, industrial services, strategic consulting, project and development services, property management and investment sales/capital markets services to New Jersey's leading corporate tenants, investors and landlords. The firm, which assists clients from three full-service offices in Parsippany, Iselin (Metropark) and East Rutherford, also acts as local service provider for JLL global and national corporate clients in need of real estate assistance in New Jersey.

About Pernix Therapeutics Holdings, Inc.
Pernix Therapeutics (NASDAQ GM: PTX) is a specialty pharmaceutical company primarily focused on the sales, marketing, manufacturing and development of branded pharmaceutical products. The company markets a portfolio of branded products, including: SILENOR®, a non-narcotic product for the treatment of insomnia, and KHEDEZLA™, as well as CEDAX®, an antibiotic for middle ear infections and a number of treatments for cough and cold conditions including ZUTRIPRO®, REZIRA® and VITUZ®. The company promotes its branded products to physicians through its Pernix sales force and markets its generic portfolio through its wholly owned subsidiaries, Cypress Pharmaceuticals and Macoven Pharmaceuticals. Additional information about Pernix is available on the company’s website located at www.pernixtx.com.

About JLL
JLL (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 fee revenue of $4 billion, JLL has more than 200 corporate offices and operates in 75 countries worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $48.0 billion of real estate assets under management. JLL is the brand name of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.​