Cushman & Wakefield announced on Tuesday it orchestrated a full building lease at Matrix Development Group’s 270 Prospect Plains Road in Cranbury.
CMIC CMO USA, a contract manufacturer serving the pharmaceutical industry, has committed to 233,000 square feet at the property. It will use the facility for office, research and development, production, packaging, manufacturing, warehousing and distribution, and more.
The deal also involved a lease termination with an existing tenant, Sun Pharmaceuticals, and arranging the purchase of infrastructure for research and development.
The team of Shawn Straka, Chuck Fern, Todd Elfand, Jason Barton, Thomas D. Tucci, Stephen Shoemaker, Paul Giannone, Kevin Carton, Jaclyn Marques, Elizabeth Rouse and Joseph Vacca of Cushman & Wakefield represented CMIC CMO USA. Gary Hans, vice president of acquisitions at Matrix, represented the landlord.
“The cooperation of three entities – Matrix, Sun Pharmaceutical and CMIC CMO USA – was critical to the success of this transaction,” Fern said. “Ultimately, we were pleased to support a win-win-win situation for all parties and Gary did a phenomenal job of bringing this deal to the finish line.”
Located on 23 acres, the property is zoned for light industrial and is within immediate access to Exit 8A of the New Jersey Turnpike.