Merck's World Headquarters Facility Is Offered for Sale
HONG KONG, Nov. 12, 2013 /PRNewswire/ -- The world's largest privately-held commercial real estate services firm Cushman & Wakefield has been retained for the sale of the 1 million square-foot world headquarters corporate campus of Merck in Whitehouse Station, N.J. The disposition is part of the Merck's announced plans to consolidate New Jersey operations. Cushman & Wakefield's Metropolitan Area Capital Markets Group (CMG) is heading the assignment.
"Every major corporate campus in New Jersey over the past three decades has either been repurposed to meet the needs of a growing corporation's new headquarters, or positioned for innovative reuse," said Andrew Merin, a vice chairman of the firm. Designed by internationally recognized architect Kevin Roche, the Merck property is one of the most recognized corporate facilities in the region.
Ted Li, National Director of Capital Markets China at Cushman & Wakefield commented: "The U.S office market is widely considered to have bottomed out, thus making it a historic period for purchasing opportunities. Due to the mature legal environment, stable returns and huge value-added potential compared to China, the U.S. office market is attracting more and more Chinese investors."
