GVA Williams scores double whammy with Pierce St. sale and lease deals.

GVA Williams New Jersey announced it has represented Paragon 150 Pierce Street, LLC in the purchase of 150 Pierce Street, Franklin Township and the simultaneous lease of the entire 133,686 s/f building to a specialty pharmaceutical firm for its headquarters.

The facility contains office, laboratory and production space on an approximate 17-acre site, which will allow for the tenant's present needs and future expansion needs to be met at this location.

The tenant is relocating from Bergen County and will utilize the space as its North American headquarters. Frank Gunsberg, executive vice president of GVA Williams New Jersey, represented both Paragon 150 Pierce Street and the tenant in these transactions.

Gunsberg commented, "GVA Williams is pleased to have assisted the tenant in securing this ideal headquarters building for their use.

"Due to the lack of available facilities that were suitable, the tenant was forced to expand the scope of their search, including looking for space outside of New Jersey.

"Our team worked closely with the tenant to find a building with the infrastructure they needed.

"This transaction is the result of many months of consultative and strategic value-added services our firm provided to the tenant, including assisting them to obtain grants from the State of New Jersey, which in the end was as instrumental as finding the right building in their decision to remain in New Jersey."

Mark Schaevitz, principal of Paragon 150 Pierce Street, LLC added, "We were pleased to have worked with GVA Williams on this challenging project.

"The fact that it culminated in the acquisition of 150 Pierce Street, a facility that closely matched the tenant's needs and enabled us to make an appropriate acquisition of the property made everyone's efforts worthwhile. It was truly a team effort."