EAST HANOVER, NJ–Cresa NJ-North/Central, part of the international tenant representation firm, negotiated a new 70,200-square-foot lease for Amneal Pharmaceuticals at 1 Murray Road in East Hanover, NJ. Amneal is making an expansion move to the high-tech industrial facility from its facility in Paterson.
Ron Ganter and Tom Giannone, managing principals of Cresa NJ, along with Jiten Parikh, vice president of operations for Amneal, represented the tenant in the deal. The landlord, Ridge Murray Associates, was represented by its general partners, Bob Amaducciand John Haug.
“Amneal was looking for a new packaging space to accommodate its expansion, and the lease was procured quickly and smoothly thanks to the dedicated focus of all parties involved,” says Ganter. “The entire real estate process, which included significant improvements to the space, was completed within four months - an exceedingly rare occurrence.”
Amneal Pharmaceuticals is producer of generic pharmaceuticals. Its product are developed from the early stages of research and pharmaceutical ingredient development all the way through to FDA approval. Last year, IMS Health listed Amneal as the seventh largest generics firm based on prescriptions dispensed.