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PARSIPPANY, NJ-In an activity-challenged office market loaded with millions of feet of sublease space, Reckitt Benckiser's signing provides some good news. Aventis Pharmaceuticals is the sublessor.
NEWARK, NJ-The Canadian institution will use the space at 550 Broad St., one of this city's signature office towers, as a disaster recovery site. Heritage Management bought the building in 2000 and has substantially renovated it.
BRIDGEWATER, NJ-The pharmaceutical giant plans to remediate a vacant, 300-acre former American Cyanamide tract, and then give it to the township under a prior agreement.
NEPTUNE, NJ-AIG subsidiary United States Life Insurance will continue to occupy an entire building in Monmouth County after signing a 10-year extension with owner Mack-Cali Realty.
KEYPORT, NJ-Woodmont Properties wants to develop 42 units on a site that already contains two small office buildings. The project would retain the offices and add parking capacity.
BRIDGEWATER, NJ-The sale price was not disclosed for the year-old class A Bridgewater Crossing, which is 70% occupied by Aventis, but industry sources place it in the $140-155 million range.
NEWARK, NJ-The developer just spent $7 million to buy a key 5.7-acre site and is looking at a five- to seven-year build-out, pending approvals. The company also has its sights set on buying yet another nearby piece of land.
VERNON, NJ-The deal will keep 1,850 acres undeveloped while giving developer Intrawest the right to continue with its plan to build a resort at the base of Hamburg Mountain.
MORRISTOWN, NJ-Common Health Advertising will move its offices a few miles down the highway from Parsippany, to Olnick-Fisher's downtown MXD complex here.
LYNDHURST, NJ-State and federal officials have authorized a $5.2-million study that will focus on finding the best way to turn the region's remaining undeveloped tracts into an environmental park.