Major tenant signs at Whiteweld Centre - Medco Containment Services Inc. leases commercial space in Montvale, New Jersey

Real Estate Weekly, Dec 16, 1992

James J. Bovino, president of The Investment Firm of Whiteweld, Barrister and Brown, announced that Medco Containment Services, Inc., a prescription drug benefit company headquartered in Montvale, New Jersey, has leased 46,500 square feet at the 230,000-square-foot Whiteweld Centre International Corporate Plaza in Woodcliff Lake, New Jersey.

Whiteweld Centre, the recent recipient of several architectural awards including the 1993 Sales and Marketing Award for New Jersey's best new commercial complex, will house several divisions of Medco serving clients throughout the United States.

John J. Johnson, senior vice president of Whiteweld, Barrister and Brown, was the owner representative on the transaction.

Situated at the end of a corporate culde-sac on a campus-like setting among acres of apple orchards, Whiteweld Centre is considered to enjoy the last prime headquarters site in Bergen County. It is directly adjacent to the 350-room Woodcliff Lake Hilton Hotel and Conference Center and walking distance from an abundance of shops, restaurants and banks.

The Chestnut Ridge Corporate Corridor, as it is called, is already home to such blue-chip companies as BMW, Ingersoll-Rand, Mercedes Benz and Sony. Whiteweld Centre also enjoys close proximity to all major highways. It is a short two minutes from Exit 171 of the Garden State Parkway, 25 minutes from the George Washington Bridge and 30 minutes from Newark Airport.

Medco will occupy the entire first floor of Whiteweld Centre's 160,000-square-foot north wing in January of 1993. Overall, it will be the fifth corporation with quarters here and the second with offices in the north wing (Comdisco, Inc. recently leased 25000 square feet). The 70000-square-foot south wing is already home to Xerox Corporation, which leases 33,000 square fact; Integral Systems, Inc. which maintains 15000 square feet; and, Seix Investment Advisors Inc. which leases 3,900 square feet. According to Bovino, negotiations for an additional 75000 square feet are near closing with three other prospective tenants.

Whiteweld Centre's two atrium-style corporate wings are connected by a three-story glass-enclosed entranceway.