UNICOM Corp., an information technology services company based in Beverly Hills, California, has finalized an agreement to purchase the Merck property in Whitehouse Station, the company announced Thursday morning.
The acquisition is expected to close in October, the company said. After it is acquired, the property will be renamed “UNICOM Science Park I & II,” the company said.
Terms of the transaction were not disclosed.
UNICOM founder, CEO and President Corry Hong said the acquisition is key to helping the company expand to the East Coast.
“UNICOM is very excited to acquire this world-class IT Real Estate property as our regional headquarters for the New York and New Jersey region,” he said in a statement. “Our commitment to expand and extend our IT Real Estate portfolio and our services for industry leaders, especially those in the banking, insurance, technology, telecom, pharmaceutical and biotech sectors, is reflected in this investment.”
The company said the acquisition is “the latest demonstration of UNICOM’s willingness to invest in the future of our country and will be another cornerstone of UNICOM’s work in the region and throughout the Boston to Washington, D.C., corridor.”
UNICOM has New Jersey offices in Plainsboro and Parsippany.
The Class A office buildings total approximately 1.24 million square feet and are located on 1,100 acres of park-like grounds.
More than that, the property had become a symbol of the state’s so-called “white elephant” problem — abandoned mega office parks in the suburbs.
Dan Loughlin and his team at JLL brokered the deal.