Image-conscious pharma giant makes New Jersey move.IMS Health IMS Health (NYSE: RX) is an international consulting and data services company that supplies the pharmaceutical industry with sales data and consulting services. IMS Health was founded in 1954 by Bill Frohlich and David Dubow. Inc. has leased 11 Waterview Boulevard in Parsippany in its entirety The whole, in contradistinction to a moiety or part only. When land is conveyed to Husband and Wife, they do not take by moieties, but both are seised of the entirety. , announced Cushman & Wakefield, Inc. The pharmaceutical marketing and con suiting firm will relocate re·lo·cate v. re·lo·cat·ed, re·lo·cat·ing, re·lo·cates v.tr. To move to or establish in a new place: relocated the business. v.intr. its regional operation to the 120,000 s/f, Class A office property from Totowa this fall and intends to purchase the new building from the owner, UFP UFP United Federation of Planets (Star Trek) UFP Union des Forces Progressistes (French: Union of the Forces Progressists, Quebec provincial party) UFP URL Filtering Protocol , LP, in early 2008. [ILLUSTRATION OMITTED] This was a complex transaction as both a lease and a purchase and sale agreement had to be negotiated. Jeffrey A. Prezant and James L. Frank of Cushman & Wakefield of New Jersey Inc. negotiated the long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. lease as marketing agents for 11 Waterview Boulevard. John Sarkisian, Richard Danesi and Brian Godau of CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. represented IMS Health. Headquartered in Norwalk, Conn., and operating in more than 100 countries, IMS Health is the world's leading provider of market intelligence to the pharmaceutical and healthcare industries. "From its location and accessibility, to its quality construction and park-like setting, 11 Waterview Boulevard provides an atmosphere in which IMS Health will be well positioned for success," Frank noted. "This property is highly visible and recognizable--it provides a true headquarters-quality image." The building is part of the Waterview Corporate Center, which fronts on Route 46, at the intersection intersection /in·ter·sec·tion/ (-sek´shun) a site at which one structure crosses another. intersection a site at which one structure crosses another. of 1-80 and 1-287, offering excellent highway access. Nearby hotels, shopping, dining and entertainment add to the area's appeal. "In the process of marketing 11 Waterview Boulevard, we saw strong interest from a number of firms seeking in excess of 100,000 s/f in the immediate market," Prezant said. "This growing Class A office demand in Parsippany bodes well for the town, where a number of large blocks have been available for some time. We are likely to see vacancies at trophy properties dropping significantly in the coming months." |
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