X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PRINCETON, NJ-Pharma giant Bristol-Myers Squibb is putting a total of 900,000 sf of office space on the market at two locations here as the company restructures its real estate holdings, GlobeSt.com has learned. And company officials say they’re looking for a sale-leaseback deal. “The company will remain at both sites and sign long-term leases,” a spokesman says.

And BMS has hired locally based Garibaldi, Morford & Dodds/Corfac International to advise it on the offering, GlobeSt.com has learned. Handling the assignment are Robert Morford, Gerald E. Moore Jr. and Gerald A. Bower Jr. of Garibaldi’s Financial Services Division.

“This portfolio is well positioned,” Morford tells GlobeSt. “It should attract investors seeking quality, well-located office space leased to a credit tenant that’s committed to the community.”

The two locations are 777 Scudders Mill Rd. and 100 Nassau Park Blvd. here. Built in 1993, 777 Scudders Mill Rd. is situated on approximately 106 acres within Princeton Forrestal Center. The property consists of three, five-story office buildings connected by an underground service concourse. Among the concourse’s amenities is a television/media studio. The site also has final approvals in place for a fourth five-story office building, as well as preliminary approvals for two additional buildings.

The 100 Nassau Park Blvd. property, meanwhile, was built in 1986. It consists of a three-story class A office building with a centralized atrium.

“Both sites have great locations, as well as quality infrastructure and amenities,” Moore says. “This should be a very attractive investment.”

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
  • 1 free article* every 30 days across the ALM subscription network
  • 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
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.