Takeda Buys 70 Acres Next to Baxter

"They had done a pretty extensive review of the market and they were looking at a number of alternatives," says Henry H. Cox, who represented Takeda Pharmaceuticals North America along with fellow CB Richard Ellis, Inc. senior vice president Robert A. Reaumond. "This was clearly their best location."

The company, whose growth pattern has required adding 20,000 sf of office space a year, wanted to remain in Lake County, Cox explains. Takeda Pharmaceuticals North America leases 130,154 sf at 2275-85 Half Day Rd. in the Millbrook Business Center in nearby Lincolnshire.

"It's good for the demographics of their work force," Cox tells GlobeSt.com. "They want to make it convenient for their employees who commute."

The future Takeda Pharmaceuticals North America is at the northeast corner of Lake-Cook and Saunders roads, near the I-294 interchange.

Chicago-based Newcastle Limited represented Baxter International, which got "a spirited response" once the 70-acre site hit the market, says Michael R. Haney, president of the brokerage firm that handled the sealed-bid marketing effort. "Takeda made a straightforward offer that achieved all of Baxter's objectives," he adds.

The size of Takeda Pharmaceuticals North America's new headquarters has yet to be determined, Cox notes, while indicating it likely will exceed 200,000 sf. However, the company hopes to move to the Lake-Cook Road campus in 2005, he adds. Its lease at Millbrook Business Center runs through 2006, Cox says, although the company has early termination rights beginning in 2005.

Takeda Pharmaceuticals North America bought enough land to build 1.6 million sf of office space, according to current village of Deerfield and Lake County zoning.