A pharmaceutical company has leased more than 50,000 square feet of office space in Ewing, under a newly announced transaction by Lee & Associates New Jersey.
The tenant, TCG GreenChem Inc., is making its entrance to New Jersey with the commitment at 701 Princeton South Corporate Center, the brokerage team said. The firm will occupy 54,520 square feet under a 10-year commitment with the undisclosed landlord.
“We are thrilled to have facilitated this deal on behalf of TCG GreenChem alongside Cushman & Wakefield,” said Brian Lynch, a principal with Lee & Associates New Jersey. “This 10-year lease underscores that, even during the current uncertain COVID-19 climate, the pharmaceutical development and manufacturing industry remains strong and companies are willing to make long-term commitments.”
Lynch and Vice President Beth Chezmar represented the tenant, the U.S. subsidiary of TCG Lifesciences Pvt. Ltd., while Todd Elfand, Shawn Straka, Kevin Carton and Joe Vacca of Cushman & Wakefield represented ownership. In a news release, the brokerage firm said TCG’s lab and office space will allow it to conduct analytics, process research and formulation, while offering capacity for future expansion.
The property features roughly 100 parking spaces and a 400-kilowatt generator, with an 800 gallon diesel fuel tank for emergency services, the news release said. The site, which is near Interstate 295, will provide the firm with a location near Princeton University, The College of New Jersey and Rutgers University, along with central New Jersey’s network of pharmaceutical, medical and tech entrepreneurs, researchers and Fortune 500 companies.