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C&W exclusive on 1.3m s/f New Jersey corporate campus.

The largest, most diverse corporate center in New Jersey--the 1.3 million-square-foot, former AT&T headquarters campus in Basking Ridge--is available for acquisition, offering a one-of-a-kind opportunity in today's market, announced Charles Borrok, vice chairman of Cushman & Wakefield, Inc., which is marketing the 135-acre campus. The firm was appointed exclusive sales agent by Pfizer, which inherited the campus earlier this year-through its acquisition of Pharmacia Corporation.

Cushman & Wakefield has tapped three of its top professionals for the assignment as well as the firm's national and global resources.

In addition to Borrok and his partner, Joshua Kuriloff, executive vice president, the sales team includes New Jersey industry leader Andrew J. Merin, executive vice president of the Metropolitan Area Financial Services Group.

"This is an incredible opportunity for a user to purchase the tri-state area's highest-profile office property in the heart of one of the best labor pools in New Jersey," Merin noted.

"The one-of-a-kind environment created by AT&T at 295 North Maple Avenue is peerless."

According to Borrok, economic changes and shifts in the real estate market during the past year have given rise to corporate strategies that are increasingly conservative and focused on efficiencies.

"We believe that the resulting drive to consolidate operations--to create less duplication of certain roles, achieve operational cost savings and foster synergy under one roof--will be central in a company's interest in the Basking Ridge campus."

"This is an extraordinary opportunity for a company to invest in its future while streamlining its organization into a facility that engenders a distinct corporate culture and identity today," Borrok said.

Situated at Exit 30A of Interstate 287, 295 North Maple Avenue consists of seven interconnected buildings that can accommodate up to 5,000 employees.

Approximately 3,900 parking spaces are located in two levels below the complex.
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Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:Dec 10, 2003
Words:299
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