Large Class A Space Scarce in Princeton, But Bristol-Myers Squibb HQ Has the Cure

PLAINSBORO, NJ—Cushman & Wakefield is exclusively looking for tenants to lease in the massive three-building, 650,000-square-foot former Bristol-Myers Squibb headquarters complex at 777 Scudders Mill Road in Plainsboro. The AVG Partners-owned, class A office property – easily divisible for multi-tenant occupancy – will be available in late 2016, when the pharmaceutical giant relocates to a new facility currently under development in nearby Lawrenceville, NJ.

The leasing team for the assignment is headed by Charles Hatfield, Robert Donnelly, Marc Rosenberg, Robert Donnelly Jr. and Carrie Neigel of Cushman & Wakefield's Morristown, NJ, office, and Jay Hruska, who is based in Stamford, CT.

The 106-acre 777 Scudders Mill Road campus includes three, 200,000-square-foot, 5 story office buildings and approximately 50,000 square feet of ancillary facilities with amenities. Features include a media studio, auditorium and training facilities, conferencing, full-service cafeteria, fitness center, data processing center, stand-alone day care facility and onsite convenience retail including a barber shop/salon. Future tenants also will enjoy the property's combination of surface and structured parking, with potential for expansion.

“This corporate campus was custom built to the highest standards and has been well managed and well maintained throughout Bristol-Myers Squibb's occupancy,” says Hatfield “Its forward-thinking design included an exit strategy that easily facilitates its repurposing for multi-tenant use as the case may be.”

Cushman & Wakefield will market the property to full-building users, although its flexible 40,000-square-foot floor plates could accommodate further divisibility. Tenants will be able to take possession of custom built-out space in the fourth quarter of 2016, with the possibility of early phased occupancy.

“The headquarters-caliber corporate campus is coming to market at a time with limited availability of large class A blocks of space in the desirable Princeton/Route 1 submarket. Within this context, 777 Scudders Mill Road stands out as a great opportunity to secure top-quality office space with unparalleled amenities,” says Hatfield.

777 Scudders Mill Road is on Route 1, across from Princeton Forrestal Village – the retail component of Princeton Forrestal Center – and its associated amenities, and adjacent to the new University Medical Center of Princeton. It offers easy access to the region's major thoroughfares and mass transit infrastructure.