Barr Pharmaceuticals Inc. signed a long-term lease to occupy a 142,500-square-foot office property in Montvale, N.J.

The value of the transaction was not disclosed.

The space, located at 225 Summit Ave., will serve as Barr’s executive headquarters. Situated on 37 acres, the building was recently fully renovated and features a 22,000-square-foot operations data center with backup generator and a full-service cafeteria.

Montvale-based Ivy Equities — with joint venture partner Paragon — owns the property, which was formerly occupied by Toys ‘R’ Us.

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