Valeant Pharmaceuticals’ summertime announcement that it will double its headquarters occupancy in Bridgewater to 610,000 square feet punctuates a banner year for the Cushman & Wakefield office brokerage team led by Marc J. Trevisan and David Sherman. The 310,000-square-foot commitment is an expansion of the life sciences giant’s initial 2013 lease, which the group also orchestrated.
The Trevisan/Sherman team closed more than 1 million square feet of deals in New Jersey through December. This also includes significant transactions with clients like General Mills, PCS, Coughlin Duffy, Winne Banta, Kering Eyewear USA Inc., MI Group, Brown and Brown, Chasan Leyner & Lamparello, and Norris McLaughlin & Marcus along with Vice Chairman Robert Rudin, among others.
Trevisan and Sherman both serve as executive vice presidents in Cushman & Wakefield’s East Rutherford office. Other team members include Slava Vaynberg, Mark Zaziski and David DeMatteis.
“Marc, David and their group perform at the highest level and are recognized industry leaders,” noted Ron Lo Russo, president, NY Tri-State region, Cushman & Wakefield. “They are well known for marrying strategic thought process with attention to detail in every assignment, and continuously demonstrate finesse in understanding business needs and leveraging markets to accommodate them. For these reasons, their efforts on behalf of Valeant and other clients in 2015 come as no surprise.”
Trevisan noted that while he and Sherman are veteran brokerage professionals, their team is comprised of mid-level and junior people, as well. “David and I have been training up-and-coming brokers for decades,” he said. “We take great pride in having built a diverse and talented team of entrepreneurs who generate business and run transactions with our oversight. We have something special here, which enables us to consistently win pitches and deliver results to our clients.”
According to Sherman, successful dealmaking ties directly to a deep awareness of market cycles. “Marc and I have seen many in our careers, and we understand how to take advantage of both superheated markets and downturns,” he said. “Providing flexibility in all lease negotiations is critical to the positive outcome of any transaction.”
The New Jersey office market currently is on a positive trajectory, with robust demand, declining vacancies and higher asking rents according to Cushman & Wakefield research. At the end of the third quarter, 8.5 million square feet of lease transactions had been completed in the state’s Northern and Central counties, representing a 37.0 percent increase year over year.Related Articles: