M&A (Fusiones y adquisiciones) llegó el negocio del mercado inmobiliario ( "real estate")...?(II)

With the mega-mergers between Pfizer and Wyeth, and Merck and Schering-Plough expected to close this quarter, New Jersey’s commercial real estate industry is bracing for consolidations to put sizable blocks of space on the market, but insiders expect growth from smaller pharma firms to soften the blow.

“There’s an obvious consolidation going on in the pharmaceutical world,” said Dan Loughlin, managing director of the Parsippany office of Jones Lang LaSalle, the commercial real estate brokerage that represents all four companies. Although the real estate market has yet to see the fallout of the two mergers, “the overlap of facilities and operations … as it pertains to New Jersey is a real issue.”

Roche, which closed on its $46.8 billion acquisition of California-based Genentech earlier this year, is moving its U.S. headquarters to South San Francisco. The company will keep its corporate campus in Nutley, but “if you drive by there, the parking lot used to be chock full of cars, and now it’s about half full,” Houston said.

Mylan Laboratories, the second-largest generic pharmaceutical company in the United States, signed a 53,517-square-foot office lease in Bernards during the second quarter, he said. In one of the largest new office leases in the state this year, Otsuka America Pharmaceutical leased 67,531 square feet of space at One University Square, in West Windsor.

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