NEW YORK—Coty Inc., a fragrance, cosmetics and body care company headquartered in New York, has signed a 98,000-sq.-ft. lease for research and development space to 500 The American Road in Morris Plains, N.J. Cassidy Turley’s Richard Bernstein, executive vice chairman, principal and Ralph Giordano, senior managing director, negotiated directly with the principals of Lighthouse Real Estate Ventures, Paul Cooper and Louis Sheinker, on behalf of the tenant.
Coty has committed to a 16.5-year lease at the facility as the company expands its R&D space from two other buildings within the same Morris Plains corporate park. The facility will include laboratory, office, consumer testing and warehouse space for Coty.
“Since taking ownership of the asset, we have strived to make this the premiere flex/office destination in Morris County,” said Louis Sheinker, principal, Lighthouse Real Estate Ventures. “We’re glad Coty sees this value and look forward to a long-term relationship with this successful company.”
Founded in 1904, Coty Inc. has more than 12,000 employees worldwide in more than 30 countries.