Celanese was represented in the transaction by Bleecker Totten and Remy de Varenne of CB Richard Ellis, while the Florham Park, NJ-based Gale Co. was represented in-house by Jim Nugent, vice president of leasing. Terms of the signing were not disclosed, however, space is listed on the company's website with an asking price of $30 per sf.
Built in 1988, the two-building 500 & 550 Hills Dr. totals just under 191,000 sf of space. The complex has direct access to Interstates 287 and 78. In total, Celanese Americas Corp. has 24 production plants and a half-dozen research centers.
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