Horizon Blue Cross & Blue Shield
Horizon Blue Cross Blue Shield’s operations were decentralized in nine suburban locations, and a consolidation would improve the company’s productivity. Sitar Company ONCOR International was retained by Blue Cross and Blue Shield to determine its space needs, perform site search, completed the financial analysis, select the developer, negotiate a long-term lease and obtain tax incentives. The 860,000 sq. ft. transaction remains one of New Jersey’s largest office leases, and the project was the largest suburban-to-urban consolidation of office space in the nation at that time.