Cushman & Wakefield Wins MCEDC Top Real Estate Broker Award

Firm's Office Leasing Team Honored for 325,000-Sq.-Ft. BASF Headquarters Build-to-Suit in Florham Park. End Quote

Newark, NJ (1888PressRelease) May 11, 2011 - The Cushman & Wakefield, Inc. team of Robert Donnelly Sr., Robert Donnelly Jr., Marc Rosenberg and Ben Brenner were responsible for the year's largest office lease and have been honored by the Morris County Economic Development Corporation (MCEDC) for the achievement. In mid-2010, they represented chemical and materials giant BASF in a long-term agreement for a new 325,000-square-foot building for the company's North American headquarters in Florham Park, N.J.

"The BASF headquarters lease was a signature transaction, especially given the current economic cycle," said Maggie Peters, Executive Director of the MCEDC, in honoring Cushman & Wakefield with its Real Estate Broker Award-Office Category, to be presented at the corporation's 19th Annual Partners in Economic Development Awards Lunch at the Hanover Marriott in Whippany, N.J. on May 13.

"The impact on the Morris County office market cannot be understated, as this prestigious headquarters project will not only retain a significant number of well-paying jobs, but also continue to create jobs and spur direct as well as indirect investment within the county and state," Peters said. "We congratulate the Cushman & Wakefield team for their expertise in completing this transaction and deservedly winning MCEDC's Real Estate Broker Award."

Construction is currently underway on the build-to-suit project within The Rockefeller Group's The Green at Florham Park. BASF currently has its North American headquarters at 100 Campus Drive in Florham Park, and when the new five-story, state-of-the-art class A building is delivered in mid-2012, it will house 1,400 employees, combining operations from there and Rockaway, N.J.

"BASF made a decision from an operating perspective that they wanted all or most of their operations under one roof," said Robert Donnelly Sr., Vice Chairman. "This location gives them what they wanted, and the result is the largest build-to-suit agreement in the state in several years."

BASF's new headquarters is also being constructed to meet the U.S. Green Building Council's platinum certification LEED standards for sustainability. "We are very excited to quite possibly have the greenest building in the state right here in Morris County," said Peters.

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