The chemical giant, which employs 12,000 people in North America and last year had sales here of $8.2 billion, has hired Cushman & Wakefield to find a buyer for the property, which is comprised of five four- and six-story buildings totaling more than one million sf of space plus additional development rights on 154.5 acres. BASF isn't abandoning the Garden State--the company is actually looking to move to somewhat smaller quarters and has also hired C&W to find it a new home in Northern New Jersey.

BASF has been at its 3000 Continental Dr. North location for nearly a decade, occupying a campus comprised of east and west parcels of 97 and 57.5 acres respectively, according to C&W executive vice president Robert J. Donnelly, who's repping the company. The east parcel was developed in stages between 1994 and 1998 and currently contains five interconnected office buildings and two parking garages with a total capacity of 2,350 cars.

The west parcel, meanwhile, remains undeveloped, but comes with development rights for up to 700,000 sf of space. Located just off I-80 in Morris County, the campus is within the larger, 680-acre International Trade Center, which is home to such companies as BMW, Calvin Klein, Federal Express, Lucent and Seiko, among others. The ITC also contains a Wyndham Hotel, and a Marriott Residence Inn is under construction.

"BASF's headquarters facility is one of the greatest opportunities ever available for major corporations to gain access to such a new, high-end suburban campus," Donnelly says. "The completed office buildings are of the highest quality, and the setting and amenities are world-class."

BASF's property joins some other notable suburban corporate campuses on the market in the Garden State, with most of the others relating to the telecom industry's cutbacks. Unlike the others, the BASF property remains occupied for now.

The most notable availability is AT&T's former two-million-sf headquarters campus in Basking Ridge, NJ, which was purchased by Pharmacia last year and became part of Pfizer's holdings after it acquired Pharmacia. According to one rumor, which could not be confirmed, another major pharmaceutical company is in talks to acquire that property, which is currently vacant.