Pharmacia Takes 2nd Full-Building Lease in Two Months

BEDMINSTER, NJ-Lightning does strike twice in this hot real estate market. Earlier this summer, Pharmacia Corp., a pharmaceutical firm, signed on the dotted line for 116,000 sf, an entire building, at the Somerset Financial Center in Bedminister, NJ (Somerset County). But it wasn’t enough. Several weeks later the company took a second 116,000-sf adjoining building.

The properties are being jointly developed by Gale & Wentworth, Florham Park, NJ, and J.P Morgan Investment Co. of New York. The facilities will augment Pharmacia’s existing facilities in nearby Peapack and Bridgewater.

Designed by HKS Architects of Dallas, the complex was built by Gale & Wentworth Construction Services. Two years ago, prior to the recent merger of Pharmacia & Upjohn with Monsanto’s G.D. Searle unit, Pharmacia & Upjohn established its world HQ in Bridgewater. It later acquired and renovated the 550,000-sf former Beneficial Corp. in Peapack, moving there a year ago.