Tuesday, October 13, 2015

Final Price Paid Not Disclosed -- But Celgene Closes On Legacy S-P Facility: 556 Morris Ave., Summit, NJ

In due course, if I remember to spend a little time looking it through -- I'll try to figure out an approximate final price, from the tax bills, online in NJ -- or Celgene's SEC filings, but the sale of the legacy Organon/Schering-Plough Morris Aveneue has now closed. We have covered the various Morris Ave. property shuffles, since early 2009.

And at least somewhat as irony would have it, Carrie S. Cox -- a Fred Hassan protégé, once again (this time as a director) has a hand in the control of this site. Here is a bit from the local njbiz.com news outlet:

. . . .Celgene Corp. has completed its purchase of the former Merck & Co. research and development complex in Summit, giving a new lease on life to the 1.3 million-square-foot campus as the biotech giant continues its expansion in the city. . . .

Onward -- hoping that my Cubbies will ultimately meet the Mets, in a few days. A reversal of 1969, that would be. . . smile.

1 comment:

Anonymous said...

I think that this property transaction made good sense for both MRK and CELG and is also obviously good for the town of Summit and the county of Union.