Lease Beat

Valeant Pharmaceuticals Inks 310,000 SF New Jersey Lease Following Major Acquisitions

Valeant Pharmaceuticals International has signed a long-term, 310,000-square-foot lease to occupy the Somerset Corporate Center IV at SJP Properties’ 2.1 million-square-foot office complex in Bridgewater, New Jersey.

ValeantValeant, a multinational pharmaceutical company, will consolidate multiple locations into its new U.S. headquarters following the company’s acquisition of Bausch + Lomb – and more recently Solta Medical — and is expected to relocate during the first quarter of 2014.  

Somerset Corporate Center IV is one of five buildings within the Somerset Corporate Center campus that according to SPJ boasts “high-performance, energy-efficient and environmentally responsible building systems that produce low emissions and optimal indoor air quality to deliver a healthier work environment.”

“Somerset Corporate Center IV is situated in a pristine campus setting within the heart of one of the country’s best labor pools for the pharmaceutical and technology sectors,” said Steven Pozycki, CEO of SJP Properties, in a statement. “We are confident that Valeant’s ability to attract and retain top professionals will be further enhanced by Somerset Corporate Center’s offering of numerous premier amenities and highly responsive on-site management.”

The building features several on-site amenities that will be exclusively available to Valeant’s employees, including a full-service corporate cafeteria, a conference center with a 225-seat theater-style auditorium, and a fitness center. The complex features a 15-acre central park, with walking paths, sitting areas and private gardens. 

Among existing tenants at the complex are Qualcomm, Allergan Pharmaceuticals, Cognizant Technologies, Merrill Lynch and Aon Hewitt and Aptalis.

A Cushman & Wakefield team of Greg Ficke, David Sherman and Harlan Hollander represented Valeant in the transaction, while SJP was represented in house by Jeff Schotz and Peter Bronsnick. A Cushman & Wakefield spokesperson did not respond to requests for comment. Mr. Schotz and Mr. Bronsnick could not be reached.

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