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.