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| Novo Nordisk's North American Headquarters, Princeton, NJ |
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| Andrew Scandalios |
FLORHAM PARK, NJ, Aug. 15, 2016 – Holliday Fenoglio Fowler, L.P.
(HFF) announced today that it has closed the $305 million sale of Novo
Nordisk’s North American headquarters, a 761,824-square-foot, Class A office
campus in Princeton, New Jersey.
HFF marketed the property
on behalf of the seller, Intercontinental Real Estate Corporation. In 2011, HFF worked on behalf of the seller
to secure capital for the development of the property in a deal that was
honored with NAIOP New Jersey’s Creative Office Deal of the Year award.
Novo Nordisk’s North
American headquarters encompasses nine interconnected buildings situated on 58
acres at 800 Scudders Mill Road within the amenity-rich Princeton Forrestal
Center Office and Research Park in the Princeton business and pharmaceutical
corridor.
The transit-oriented
campus is less than one mile from Route 1, less than four miles from the
Princeton Junction mass transit center and convenient to Interstates 95 and
295.
Redeveloped in 2013, the LEED Silver-certified
building features state-of-the-art technology, energy-efficient systems and
design upgrades such as a new façade, 10-foot glass exterior walls and a
two-story, 30-foot lobby with floor-to-ceiling glass.
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| Tom Taranto |
Campus amenities include a
267-seat cafeteria; fully-equipped fitness center; presidential suite and
executive boardroom; covered parking; full concierge service; and
4,000-square-foot rooftop terrace with outdoor kitchen and dining patios.
The HFF investment sales
team was led by senior managing directors Jose
Cruz and Andrew Scandalios and
managing director Kevin O’Hearn.
“The market continues to
aggressively underwrite single-tenant assets in prime locations with
exceptional credit, and we are honored to be the broker for the largest office
sale in 2016,” said Cruz. “The money
chasing these deals is both domestic and international as this property profile
has become a safe haven for capital.”
According to Tom Taranto, Chief Investment Officer
of Intercontinental, “The HFF team was terrific to work with during the entire
sale process. Jose Cruz and his
excellent team always place client interest first which lead, ultimately, to
this highly-successful sale execution.
On behalf of our public pension and many union investors, we are proud
and grateful.”
For a
complete copy of the company’s news release, please contact:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
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