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Cresa NJ – North/Central Negotiates Long-term Lease in Excess of 9,500 SF for Orexo U.S., Inc

RUTHERFORD, N.J. - April 29, 2014 - PRLog -- RUTHERFORD, N.J. (Tuesday, April 29th, 2014) – Cresa NJ – North/Central, part of Cresa LLC, the largest firm to exclusively provide service to occupiers of office and industrial real estate in the world, announced today that it negotiated a long-term lease in excess of 9,500 square feet for Orexo U.S., Inc. at Headquarters Plaza East in Morristown, New Jersey.

James J. Scancarella, principal of Cresa NJ – North/Central, represented the tenant in the deal. The landlord, Olnick-Fisher, was represented by Robert J. Donnelly Jr. and Benjamin Brenner of Cushman and Wakefield of New Jersey.

“After an extensive search of the Route 287 market, we decided that it was in the best interest of Orexo to relocate their office to an area in which employees, visitors and clients can have access to the full range of amenities located in downtown Morristown,” said Mr. Scancarella.

“The live-work-play environment is exactly what this young, growing company required,” he continued. “The tenant needed to launch a new product and obtain office space within an extremely tight time frame. We were able to direct them to a landlord who was capable of responding quickly and effectively accommodating Orexo’s needs.”

Cresa NJ – North/Central assisted Orexo with all aspects of the transaction including project management, as well as an extensive financial analysis and a complete study of all attributes of available space in the market. Orexo’s short-term needs were met at the Symphony Suites facility in the same complex where their permanent space would eventually be located.

Orexo U.S., Inc. is an emerging specialty pharmaceutical company marketing improved treatments for opioid dependence using proprietary drug delivery technology. Orexo develops improved specialty pharmaceuticals and treatments for new areas of use – at a lower cost, in a shorter period of time and at a lower risk.

About Cresa:
Cresa is an international corporate real estate advisory firm that exclusively represents tenants and specializes in the delivery of fully integrated real estate services, including: Transaction Management, Project Management, Strategic Planning, Corporate Solutions, Site Selection, Lease Administration, Capital Markets, Mission Critical Solutions, Relocation Management, and Facilities Management. For more information, visit www.cresa.com.

Greg Michaels

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Source:Cresa NJ - North/Central
Location:Rutherford - New Jersey - United States
Industry:Business, Real Estate
Tags:Real Estate, Business, Transaction, Lease, Cresa
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