10,000 s/f lease comes to a close

Real Estate Weekly, June 18, 2008

Colliers Houston & Co. has completed a 10,000 s/f lease for Oscient Pharmaceuticals, a commercial-stage pharmaceutical company, at 23 Orchard Road in Montgomery Twp., a submarket of the greater Princeton area. Oscient Pharmaceuticals will utilize this space as it New Jersey training facilities.

The Colliers Houston team consisting of Milt Charbonneau, SIOR; Warren Searles, Charles Parmelli, SIOR; and Douglas Twyman, SIOR, represented the building owner, JER/Herring Orchard LLC, a joint venture between JER Partners and Herring Management. Paul Velecides of CB Richard Ellis represented Oscient Pharmaceuticals.

23 Orchard Road., a 238,000 s/f Class A office building, is located at the intersection of Route 206 and Orchard Rd. Situated within a short distance of several retail centers and numerous restaurants, 23 Orchard Road is within close proximity to New Jersey Transit train service at the Princeton Junction train station. The site underwent a $3 million capital improvement program.