Linda Moss

Reporter, New Jersey

<div class="RichTextArticleBody"><div class="RichTextArticleBody-body"><p>In yet another testament to the ever-rising demand for industrial space, two developers bought a large chunk of pharmaceutical giant Novartis’ sprawling U.S. headquarters campus in North Jersey to replace nearly 1 million square feet of offices with industrial facilities. </p></div></div>

United States

Industrial

Nearly 1 Million Square Feet of New Jersey Offices Will Be Eliminated in Redevelopment 

Part of Novartis’ US Headquarters Campus To Be Transformed Into Industrial Space as Demand Soars

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CoStar has introduced a new market-based programme recognising the top sale and lease deals completed each quarter. All deals that closed during the previous quarter are evaluated by CoStar's research team, the largest professional research organisation in commercial real estate. The selected top deals and the real estate firms and individual agents involved in each transaction will be singled out for recognition each quarter. For the purpose of recognising the top property sales each quarter, CoStar uses estimated sale prices in cases where the actual sale price is not disclosed. The estimate uses sale prices of similar properties in CoStar's property sales database based on the type, age, general size and location as the subject property. All the winners can be found <a>here</a>.

CoStar has introduced a new market-based program recognizing the top sale and lease deals completed each quarter. All deals that closed during the previous quarter are evaluated by CoStar's research team, the largest professional research organization in commercial real estate. The selected top deals and the real estate firms and individual brokers involved in each transaction will be singled out for recognition each quarter. For the purpose of recognizing the top property sales each quarter, CoStar uses estimated sale prices in cases where the actual sale price is not disclosed. The estimate uses sale prices of similar properties in CoStar's property sales database based on the type, age, general size and location as the subject property. All the winners can be found <a>here</a>.

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Part of Novartis’ US Headquarters Campus To Be Transformed Into Industrial Space as Demand Soars

Nearly 1 Million Square Feet of New Jersey Offices Will Be Eliminated in Redevelopment

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