NEW JERSEY—Cushman & Wakefield Inc. and Resource Realty have been recognized by The Morris County Economic Development Corp. (MCEDC) with its Real Estate Award in the office category during the organization’s Annual Partners in Economic Development Awards Luncheon held earlier this month. The Cushman & Wakefield team of Robert Donnelly, Sr., Robert Donnelly, Jr., Marc Rosenberg and David Bernhaut earned the recognition thanks to its work on the 94-acre acquisition by Bayer Healthcare in Whippany last year.
The honor recognized the impact of Bayer Healthcare’s acquisition from Vision Equities/Rubenstein Partners, and the subsequent launch of the pharmaceutical company’s 675,000-sq.-ft., build-to-suit East Coast headquarters facility. Cushman & Wakefield represented the developers in the deal.
David Warren of Resource Realty was also recognized by MCEDC, as he served as exclusive broker for Bayer Healthcare.
The transaction represents one of New Jersey’s largest 2012 property sales as well as the largest development project launched in the state last year.
The property included 15 vacant office, laboratory and support buildings totaling 1.4 million sq. ft. Bayer will begin moving 2,500 employees into its new space this fall, consolidating from four locations.