1 Meadowlands Plaza in East Rutherford — Courtesy: The Garibaldi Group
By Joshua Burd
A life sciences company has renewed its nearly 10,400-square-foot lease in East Rutherford, where it has maintained its headquarters for nearly 30 years.
Brokers with The Garibaldi Group announced Wednesday that its client, Cambrex Corp., had committed to another 10 years at 1 Meadowlands Plaza. The company, which accelerates small molecule therapeutics into markets across the world, has been a tenant at the building since 1990.
The Garibaldi Group President Jeff Garibaldi, Vice President Scott Garibaldi and Associate Vice President Nick Stefans represented Cambrex in the 10,358-square-foot lease. Greg Barkan and Robert Norton of CBRE represented the building’s owner, Vision Properties.
“For a company like Cambrex, with the amount of attention to detail that their business requires, the benefit of a reputable landlord like Vision Properties is exponential. It’s a very important intangible,” Garibaldi said, offering praise to Vision Properties CEO Fred Arena. “Being able to focus solely on their business, not having to worry about their real estate, has been a huge plus to Cambrex for the last 28 years, and will continue to be.”
Cambrex, a contract development and manufacturing organization, has more than 1,650 employees across North America and Europe, Garibaldi said. With its recent acquisition of Halo Pharma, the company now offers formulation development and finished dose clinical and commercial manufacturing services in addition to its existing active pharmaceutical ingredients capabilities.
The same team of Garibaldi Group brokers also completed a seven-year renewal and expansion in Somerset on behalf of Geo-Technology Associates Inc. The firm renewed its current 5,000-square-foot space and is now doubling its space at 14 World’s Fair Drive, Garibaldi said, crediting the tenant’s relationship with landlord First Industrial Realty Trust.
GTA focuses on geotechnical issues such as subsurface exploration, geotechnical and foundation engineering, groundwater resource and wastewater disposal issues, construction observation and materials testing and environmental due diligence issues from phase one environmental site assessments. Its Somerset office is one of 16 locations throughout the U.S.