Jones Lang LaSalle has completed a new, direct lease for 106,500 s/f of office and laboratory space for Dr. Reddy’s Laboratories Inc. with National Business Parks Inc. in Princeton, N.J.
The global pharmaceutical company signed a long-term lease for the entire 75,500 s/f, Class A, 107 College Road East and 31,000 s/fat the 61,792 s/f, Class A, 303 College Road East.
The tenant, Dr. Reddy’s Laboratories, was represented by Shawn Straka and Steve Fleming, senior vice presidents; and John Buckley, senior associate, all with JLL.
The building owner, National Business Parks, was represented in-house by Vince Marano, COO, and Tom Stange, leasing director.
JLL’s Project and Development Services group was also selected by Dr. Reddy’s Laboratories to oversee construction efforts at the firm’s new premises. Steve D’Amico, project manager, will oversee project management services for JLL.
“The location of its new headquarters, and research and development facility was a critical and essential aspect of the decision-making process for Dr. Reddy’s Laboratories,” said Straka.
“The National Business Parks facilities were an ideal fit for the company, and the Princeton location was an added attraction.”
Dr. Reddy’s Laboratories will occupy the entire building at 107 College Road East, which will serve as the firm’s North America headquarters.
The global pharmaceutical company will also occupy 31,000 s/f of office and laboratory space at the single-story 303 College Road East, which will accommodate the firm’s newly established R&D group.
Dr. Reddy’s Laboratories is relocating to Princeton from its previous offices at Somerset Corporate Center in Bridgewater, N.J.