Pharmaceutical manufacturer renews North American headquarters lease for five years

The New Jersey office of Avison Young announced it has arranged a long-term lease renewal on behalf of Wockhardt USA at Northpoint at 20 Waterview in Parsippany, NJ. The space will continue to serve as the company’s North American headquarters.

Owned by Vision Real Estate Partners, Northpoint at 20 Waterview serves as the North American headquarters for Wockhardt, a global pharmaceutical and biotech company. Vision recently announced the completion of a newly redesigned lobby at the property as part of a multi-million-dollar capital improvement program.

J.C. Giordano, Principal, Avison Young, represented the tenant in the negotiations. Colliers’Chris Hovanec and Christine Eberle,leasing manager at Vision, represented ownership.

“We are excited to have had the opportunity to advise Wockhardt on the renewal of its North American headquarters,” noted Girodano. “By working closely with ownership throughout the negotiation process, we were able to craft a deal that met our client’s long-term strategic real estate plans.”

In modernizing the lobby at Northpoint at 20 Waterview, Vision implemented built-in seating that wraps around the lobby’s structural columns, and integrated designated gaming areas that feature a full-sized pool table and four-foot high chess table. The third phase of Vision’s capital plan for the property includes enhanced landscaping, outdoor dining area improvements and renovations to the building’s café and fitness center.

Northpoint at 20 Waterview is in a desirable location that offers walkability to the highly anticipated Waterview Marketplace. Surrounded by shopping, dining and hotels, and located directly next to a new Whole Foods, the property provides easy access to major highways including Routes 24, 78 and 46. For more information, please visit https://www.northpointatwaterview.com/.

Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its Principals. Founded in 1978, with legacies dating back more than 200 years, the company comprises approximately 5,000 real estate professionals in 120 offices in 20 countries. The firm’s experts provide value-added, client-centric investment sales, leasing, advisory, management and financing services to clients across the office, retail, industrial, multi-family and hospitality sectors.