The deal, the details of which were not released, was orchestrated on behalf of the properties owners by Robert Donnelly, vice chairman of Cushman & Wakefield of NJ's Morristown office. Jeffrey Zell, president and chairman of the Washington, DC-based JM Zell Partners, advised Sanofi-aventis. A timeline for the project was not released, although the property is said to be already approved for the expansion.

"This significant transaction will assist the local community in retaining its position as a mecca for major corporations," says Mark Yeager, president of Gale, a subsidiary of Mack-Cali Realty Corp. "It also reflects our track record of establishing long-term relationships with our tenants."

"This development is an example of the kind of relationship-driven opportunities we anticipated when Mack-Cali and Gale joined forces," says Mitchell Hersh, Mack-Cali's president and CEO. Sanofi-aventis leased the entire existing three-building complex at 55 Corporate Dr. in 2005, consolidating its North American operations from multiple locations in the region. The property is fully net-leased through April 2023

"The site was chosen because it could accommodate our business needs for a more flexible and integrated space, Tim Rothwell, president and CEO of Sanofi-aventis US told GlobeSt.com in 2005.

The campus at 55 Corporate Dr. also has a had complicated ownership path in recent years, beginning in late 2004 when the Gale Co., predecessor to Gale Real Estate Services, teamed up with SL Green Realty Corp. and Principal Real Estate Investors to buy the property from AT&T for a reported $125 million. That sale-leaseback deal kept AT&T on-site for another year before a lease termination agreement with AT&T set the table for Sanofi-aventis' occupancy.

In mid-2006, subsequently, the New York City-based Gramercy Capital Corp. bought a 49.8% share of the equity interest held by Gale and PREI for an undisclosed amount. Gramercy is a company externally managed by GKK Manager LLC, a majority-owned subsidiary of SL Green. The site is at the crossroads of Route 206, I-287 and I-78 in Central New Jersey's Somerset County.