Northpoint at 20 Waterview in Parsippany — Courtesy: Vision Real Estate Partners
By Joshua Burd
A pharmaceutical manufacturer has recommitted to its North American headquarters in Parsippany, in a newly announced transaction by Avison Young.
Brokers with the firm represented the tenant, Wockhardt USA, in the five-year renewal at Northpoint at 20 Waterview. The deal with Vision Real Estate Partners, the size of which was not disclosed, follows the landlord’s recently unveiled renovation of the 225,000-square-foot building, which resulted in a redesigned lobby and other improvements.
Avison Young Principal J.C. Giordano represented Wockhardt, a global pharmaceutical and biotech company. Colliers International’s 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,” Giordano said. “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.”
Along with a lobby redesign, Vision recently completed a full roof replacement and renovation to all restrooms, while it now plans begin a third phase of a “hospitality-inspired” building makeover. Those plans call for enhanced landscaping, outdoor dining area improvements and renovations to the café and fitness center.