PHARMACEUTICAL HEADQUARTERS SELLS FOR $53M

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PARSIPPANY, N.J. — Cole Real Estate Investments has acquired a 176,000-square-foot office property in Parsippany for $53 million. The building is located at 8 Sylvan Parkway and serves as the global headquarters for the Medicines Cos. The pharmaceutical firm has 12 years remaining on its lease. Cole was represented in-house by Robert Corry. Kevin Welsh of CBRE's Saddle Brook, N.J. office represented the seller, The Hampshire Cos.

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