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Novo Nordisk Leases 167,000 SF

PLAINSBORO, NJ-The Danish pharma company will add 400 jobs to its North American HQ with an across-the-road expansion.

By Eric Peterson | Updated on April 25, 2008

PLAINSBORO, NJ-Novo Nordisk has leased an additional 167,000 sf across the road from its existing North American HQ and will add upwards of 400 jobs to its current workforce of 800 in the region. The Danish pharma company, which specializes in diabetes treatments, has signed a lease for the entire building at 1100 College Rd., the first building constructed in what will eventually build out as the five-building, 800,000-sf Princeton Corporate Campus.

The lease at the Patrinely Group-owned building runs for a term of 15 years. Further terms were not released; new class A space in the immediate market generally runs in the $30 per sf range. The Houston-based Patrinely completed the building two years ago at the cost of $20 million, and is the overall developer of the Princeton Corporate Campus.

Novo Nordisk currently occupies much of the multi-tenant buildings at 100 and 150 College Rd. West, which total 225,000 sf. The two buildings were developed by Patrinely, which has a regional office in Princeton, but sold a few years ago. They are currently in the hands of a Swiss-based investment group. Novo Nordisk will retain its existing offices across the road.

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