Medical Products Developer Leases 173,150 SF at Hampshire Cos. Redevelopment Property
Global medical products developer The Medicines Co. is moving its headquarters to 8 Sylvan Way in Parsippany, NJ, following a complete renovation and expansion of the three-story facility.
The Medicines Co. signed a 15-year lease with The Hampshire Cos. to fully occupy the 173,150-square-foot office building. Hampshire Cos. is gutting the property, which currently totals 105,000 square feet, and adding more than 65,000 square feet to the structure, including a new cafeteria and gym.
Occupancy is expected in the first-phase of redevelopment next August.
"New Jersey offers an extraordinary talent pool in pharmaceuticals across research, development,
manufacturing and commercial disciplines. This will be the center of our global expansion," Medicines Co. Chairman and CEO Clive Meanwell said in a statement.
GVA Williams President David Simpson handled the deal for The Medicines Co., while Robert Rudin and Bill Brown of Cushman & Wakefield of New Jersey represented The Hampshire Cos.
The Walsh Co. is handling project management for the redevelopment. HLW will provide design services.
The Medicines Co., which entered New Jersey in 2001 from Cambridge, MA, is relocating from Mack-Cali's 8 Campus Drive property in Parsippany. The firm is currently establishing European operations under a global expansion plan and was recently named one of the fastest growing companies in New Jersey by the Deloitte Technology Fast 50.