Ivy Realty

Barr’s 90,000 SF Hits the Market

By Eric Peterson

GlobeSt.com

WOODCLIFF LAKE, NJ-Barr Pharmaceuticals is getting ready to move its administrative HQ to new, larger quarters, and the generic drug maker has officially put its existing 90,000-sf space at 400 Chestnut Ridge Rd. on the sublease market. The company has hired Cushman & Wakefield of NJ, East Rutherford, for the assignment, with that firm’s David Stifelman heading it.

“It’s suited to a corporate entity seeking a stand-alone, class A building,” Stifelman says. “This is a corporate headquarters-quality property in a marketplace that caters to elite tenants. It is arguably one of the best current opportunities in the competitive local market.”

As reported by GlobeSt.com, Barr signed a 142,500-sf HQ lease in May, taking the two-story office building at 225 Summit Ave. in Montvale. That building, co-owned by Ivy Equities and Paragon Realty Group, is a former headquarters building of Toys ‘R’ Us.

Barr’s soon-to-be-vacated space at 400 Chestnut Ridge Rd. here will be available for move-in at the end of this year, according to Stifleman, who co-brokered the company’s Montvale lease with C&W colleague Mitti Liebersohn of the firm’s Manhattan office. Located at Exit 171 of the Garden State Parkway, 400 Chestnut Ridge Rd. was completely renovated by Barr in 2004, shortly after that company signed a 12-year lease for the site.




			Barr’s 90,000 SF Hits the Market By Eric Peterson GlobeSt.com WOODCLIFF LAKE, NJ-Barr Pharmaceuticals is getting ready to move its administrative HQ to new, larger quarters, and the generic drug maker has officially put its existing 90,000-sf space at 400 Chestnut Ridge Rd. on the sublease market. The company has hired Cushman & Wakefield of NJ, East Rutherford, for the assignment, with that firm’s David Stifelman heading it. “It’s suited to a corporate entity seeking a stand-alone, class A building,” Stifelman says. “This is a corporate headquarters-quality property in a marketplace that caters to elite tenants. It is arguably one of the best current opportunities in the competitive local market.” As reported by GlobeSt.com, Barr signed a 142,500-sf HQ lease in May, taking the two-story office building at 225 Summit Ave. in Montvale. That building, co-owned by Ivy Equities and Paragon Realty Group, is a former headquarters building of Toys ‘R’ Us. Barr’s soon-to-be-vacated space at 400 Chestnut Ridge Rd. here will be available for move-in at the end of this year, according to Stifleman, who co-brokered the company’s Montvale lease with C&W colleague Mitti Liebersohn of the firm’s Manhattan office. Located at Exit 171 of the Garden State Parkway, 400 Chestnut Ridge Rd. was completely renovated by Barr in 2004, shortly after that company signed a 12-year lease for the site.
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