Advance Realty Group Announces 209,000-SF Build-To-Suit with Eisai Inc. at 100 Tice Boulevard in Woodcliff Lake, NJ
GROUND BREAKING EXPECTED IN FALL FOR NEW HEADQUARTERS FACILITY
WOODCLIFF LAKE, NJ, AUGUST 22, 2005 – Advance Realty Group, a Bedminster, New Jersey-based commercial real estate owner and developer, announced a major build-to-suit agreement has been signed with Eisai Inc. for a 209,000-square-foot U.S. headquarters facility at 100 Tice Boulevard in Woodcliff Lake, New Jersey. Advance acquired this site in 2004 and had been marketing it in conjunction with CB Richard Ellis as a build-to-suit headquarters opportunity. This transaction is the third significant lease Advance has consummated with an internationally-based pharmaceutical company in New Jersey over the past 12 months.
Carl Eriksen and David Opper of CB Richard Ellis, represented Advance Realty Group, while Gregg Najarian, Daniel Foley, Chip Conklin and Peter Capuciati of Studley represented Eisai Inc. in this transaction.
“This corporate headquarters facility represents an enormous strategic win for the entire State of New Jersey,” commented Robert Martie, senior vice president & regional managing director, Advance Realty Group. “This announcement validates New Jersey’s position as the pharmaceutical capital of the world and Bergen County specifically as a corporate headquarters destination. We are proud to welcome Eisai Inc. to Woodcliff Lake.”
Greg Senkevitch, chief operating officer of Advance Realty Group, added, “We congratulate the entire team of professionals including CBRE and Studley on a job well done. This will be a world-class building for a world-class tenant. This is truly a win-win-win transaction for Eisai, Advance and the entire state.”
According to Carl Eriksen, senior vice president with CB Richard Ellis, “This is the first major, ground-up corporate headquarters development in northern Bergen County in over a decade. We’re proud to be part of the team that brought Advance and Eisai together in this milestone transaction.”
“We have worked with Eisai since 1998 and have represented the firm through many expansions in its current building,” said Gregg Najarian, managing director of Studley. “Now as one of the leading U.S. pharmaceutical companies, a key objective of this assignment was for Eisai to establish its own corporate campus. In selecting its new headquarters, Eisai kept its commitment to Bergen County and to its employees by choosing an accessible location near the Garden State Parkway, which is considered one of New Jersey’s pharmaceutical corridors.”
The new Eisai Inc. headquarters facility will consist of three stories of quality Class A office space totaling 209,000 square feet. Turner Construction will serve as the general contractor and Gensler is the architect. A groundbreaking will be held this fall with an expected completion date of January 2007.
Eisai Inc. is a US pharmaceutical subsidiary of Eisai Co., Ltd., a research-based human health care (hhc) company that discovers, develops and markets products in more than 30 countries. Eisai focuses its efforts in three therapeutic areas: neurology, gastrointestinal disorders and oncology/critical care. Established in 1995, Eisai Inc. began marketing its first product in the United States in 1997 and has rapidly grown to become an integrated pharmaceutical business with sales of approximately $2 billion in fiscal year 2004 (year ended March 31, 2005).
Eisai Inc. employs approximately 1,200 people at its headquarters in Teaneck, NJ, at its state-of-the-art pharmaceutical production and formulation research and development facility in Research Triangle Park, NC, and in the field. Between 1998 and 2004, Eisai Inc. moved up rapidly in the rankings (based on revenues) of US pharmaceutical companies from No. 44 to No. 19.
For more information, contact Cathy Pollini, Eisai Inc., at (201) 287-2052 or visit www.eisai.com.
Advance Realty Group is an owner and developer of office, flex, industrial, retail and multifamily properties. With five million square feet of operating properties and a development portfolio consisting of eight million square feet of commercial projects and 9,400 residential units, Advance is one of the leading real estate owners in the Northeast and is headquartered in Bedminster, New Jersey.
