Boston Properties Signs Leases Totaling 60,000 SF

In the larger of the two transactions, Bio-Technology General Corp. has taken 53,340 sf on a long-term basis at One Tower Center in East Brunswick, NJ, with move-in slated for this fall. The biopharmaceutical company is moving its operations to One Tower Center from another location in nearby Iselin, NJ. The tenant was represented in the transaction by James D. Scanlon of Newmark JGT of New Jersey, Woodbridge.

One Tower Center, completed in 1986, is one of twin 24-story class A office towers totaling 810,000 sf at the convergence of the New Jersey Turnpike, Route 1 and Route 18. Tower Two, which serves as headquarters for PNC Bank, is separately owned and managed. The 25-acre Tower Center complex also includes the 405-key East Brunswick Hilton Hotel.

Boston Properties acquired One Tower Center in 1998 and has extensively renovated the property since then. Other tenants in the building, which is 84% leased include iNautix Technologies, Merck & Co., Computer Science Corp., National Semiconductor, BusinessEdge Solutions and Prudential Insurance.

In the other recent transaction, Cline, Davis & Mann, Inc. has signed a long-term lease for 6,502 sf of space at Boston Properties' 302 Carnegie Center in Princeton. CDM is an ad agency catering to the pharmaceutical industry, with a client list that includes Bristol Myers-Squibb, GlaxoSmithKline, Janssen Pharmaceutica, Novartis and Pfizer. Jim Postell of Trammell Crow Co. represented CDM in the transaction.

302 Carnegie Center is part of the 16-building, two million-sf Carnegie Center, a master planned business park developed in 1980 and acquired by Boston Properties in 1998. The individual buildings range from one to six stories, and from 50,000 to 230,000sf. The complex, which also includes two hotels, a post office and a heliport, is currently 96% to a tenant roster that includes Amersham Health, Covance Inc., CUH2A, William M. Mercer, Pharmanet, RCN and Washington Group International.