X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WOODCLIFF LAKE, NJ-Eisai Pharmaceuticals has inked a build-to-suit deal that will result in the company moving its US headquarters to 100 Tice Blvd. here, GlobeSt.com has learned. The Japanese-owned subsidiary of Tokyo-based Eisai Co. Ltd. will move here from its current base at Glenpointe Centre West in Teaneck.

Owner Advance Realty Group of Bedminster, NJ had last year acquired the vacant site, on which it will build the 209,000-sf, three-story building adjacent to the Woodcliff Lake Hilton Hotel, last year and since then had been marketing it in conjunction with CB Richard Ellis as a build-to-suit headquarters opportunity. Eisai Pharmaceuticals was represented by Gregg Najarian, Daniel Foley and Chip Conklin of the Rochelle Park, NJ office of Studley, and Peter Capuciati of the firm’s New York City office. Carl Eriksen, senior managing director, and David Opper, first vice president of CBRE in Saddle Brook, NJ, represented Advance.

Terms of the signing are not being disclosed. The proposed building is listed on CBRE’s website with the rent indicated as “negotiable.” The various parties involved in the transaction could not be reached for further comment.

New York City-based Turner Construction Co. will build the facility to Eisai’s requirements. The architect for the project is Gensler, which has its New Jersey office in Morristown. Work on the building will start early this fall, according to Greg Senkevitch, Advance Realty’s chief operating officer, with completion anticipated for January 2007.

The signing marks the latest of several deals Advance Realty has done in the past year in its portfolio with foreign-owned pharmaceutical companies. Notable among the earlier signings were the 51,000-sf headquarters lease for Odyssey Pharmaceuticals at an Advance Realty building in Florham Park and the 26,000 sf taken by the UK-based Whatman Inc. for its operational headquarters, also in Florham Park. The latest to join Advance’s tenant roster, Eisai, develops drugs in the fields of immunology, endocrinology, gastroenterology, neurology, cardiology, pulmonology and oncology.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.