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Pharmacia grabs AT&T headquarters for $200 million

Jul 3, 2002 12:00 PM, From staff and wire reports

AT&T has sold its Basking Ridge, N.J. headquarters to Peapack, N.J.-based Pharmacia Corp. for $200 million. The campus, featuring 1.3 million sq. ft. of office space, is located on 140 acres of property, accommodates more than 4,000 employees.

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Robert J. Donnelly and Marc A. Rosenberg, executive vice presidents of New York-based Cushman & Wakefield, advised AT&T in the transaction. AT&T will occupy the building until Nov. 2002. The campus of 2- and 4-story buildings features an on-site conference center with 171 rooms for overnight accommodations, a lobby containing an indoor waterfall, a helicopter pad and recreational fields.


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