Wyeth Pharmaceuticals

Highview Providence Corporate Center, Collegeville, PA

Project Outline:
Wyeth Pharmaceuticals has retained Newmark Knight Frank Smith Mack as their tenant representative on numerous significant real estate transactions over the past twenty (20) years ranging from 65,000 square feet to 465,000 square feet.

Commencing in 1982 Newmark Knight Frank Smith Mack assisted Wyeth in selecting and assembling contiguous properties for their Corporate Headquarter campus in Radnor, PA. This location ultimately totaled in 1.2 million square feet of combined office facilities.

As the company continued to grow, its location requirements changed. In response, Wyeth relocated its corporate headquarters campus to Collegeville to a company-owned facility. In 2002 Wyeth’s Collegeville location was unable to accommodate the company’s rapid growth. Expansion construction in their own facility was becoming costly therefore Wyeth engaged Newmark Knight Frank Smith Mack’s corporate services team for a real estate strategy. Newmark Knight Frank Smith Mack presented a long term leasing program that provided a cost savings to Wyeth and identified a nearby office park that was about to begin new construction that would be suitable for this option. Through creative lease structures, Wyeth would have the flexibility to expand or contract, to compensate for potential fluctuations in employee headcount. Under the guidance of Newmark Knight Frank Smith Mack, Wyeth negotiated a long-term lease for the entire Phase I portion, 185,000 square feet, of the Highview at Providence Corporate Center development.

Service Provided:
Site selection and assemblage

Acquisition advisory

Investment & valuation advisory

Transaction and lease negotiations

Straw party negotiations

Multi-market lease transactions throughout United States

How Newmark Knight Frank Smith Mack Added Value:
Newmark Knight Frank Smith Mack has serviced Wyeth through the years to provide real estate strategies and transaction management that have translated to solutions that aligned with Wyeth’s corporate growth and objectives. Broad market knowledge and real estate expertise have repeatedly demonstrated to Wyeth that Newmark Knight Frank Smith Mack has a long-term commitment to its clients to ensure their real estate needs are fully satisfied. This has resulted in continued opportunities to service this client.