Advance Realty Group Hosts Groundbreaking Ceremony for Eisai Inc.’s New Corporate Headquarters
209,000-SF FACILITY FOR TOP 20 PHARMACEUTICAL COMPANY WILL BE LOCATED AT 100 TICE BOULEVARD IN WOODCLIFF LAKE, NJ
Advance Realty Group, a Bedminster, New Jersey-based commercial real estate owner and developer, held a groundbreaking ceremony today to commemorate the start of construction of a 209,000-square-foot U.S. headquarters facility for Eisai Inc. at 100 Tice Boulevard in Woodcliff Lake, New Jersey. The internationally-based pharmaceutical company signed a build-to-suit agreement with Advance this summer for this Class A office building. The building is expected to be completed in January 2007.
“This groundbreaking marks the commencement of construction of a very important facility for Eisai and for the Woodcliff Lake community as well,” stated Robert Martie, senior vice president & regional managing director, Advance Realty Group. “We look forward to developing an outstanding world-class headquarters facility for Eisai that reflects its status as one of the world’s leading pharmaceutical companies. We are also very pleased to be delivering another significant office building to New Jersey,” Martie continued.
Carl Eriksen and David Opper of CB Richard Ellis, represented Advance Realty Group in the initial build-to-suit agreement, while Gregg Najarian, Daniel Foley, Chip Conklin and Peter Capuciati of Studley represented Eisai Inc.
“This U.S. corporate headquarters facility for Eisai will represent an enormous strategic win for the entire State of New Jersey and validates New Jersey’s position as the pharmaceutical capital of the world and Bergen County specifically as a corporate headquarters destination,” commented Greg Senkevitch, chief operating officer of Advance Realty Group. “We are proud to welcome Eisai Inc. to Woodcliff Lake.”
The new Eisai U.S. 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.
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.
