NUTLEY, NJ-Roche has retained Jones Lang LaSalle to handle sale of its 1.9-million-square-foot former US pharmaceuticals headquarters campus that sprawls across the Nutley/Clifton town line.
Roche announced more than a year ago that it would vacate all its offices and research and development facilities at the 116-acre campus it occupied for nearly 90 years.
Working with the two towns, the company funded a study of possible uses for the property that would suit their community development plans. The recommendations from that study are for mixed-use redevelopment: perhaps offices, research and development, biotechnology, or possibly housing, retail space or a hotel.
"The proximity of Roche's campus to major transportation corridors, mass transportation hubs and the surrounding urban demographic make this property a uniquely desirable site," said JLL's Thomas Stanton. The campus is set beside Route 3, not far west of the Lincoln Tunnel.
The complex is 20 minutes from Midtown Manhattan and about the same distance from Newark International Airport; it is also close to major transit hubs in Secaucus and Montclair.
Stanton is leading JLL's marketing team for the site, which also includes John Buckley and Joseph Garibaldi of the firm's capital markets group.
Tom Lyon, Roche's head of the Nutley site, said JLL was tapped because of its comprehensive analysis of the site's potential and its track record of successfully divesting "complex, technically-sophisticated properties."
The Roche campus includes five high-value buildings, two of which are highly equipped R&D facilities:
- a 504,000-square-foot facility completed in 1994, with a new wing added in 2001, and space for chemistry, biology, a vivarium, a 130-seat auditorium, offices and collaboration.
- a stand-alone R&D facility, completely renovated in 2011, with an 85-seat auditorium and an enclosed walkway to the other facility.
- a 281,456-square-foot manufacturing building, renovated in 2011.
- a 15-story, 325,000-square-foot office tower, newly renovated to LEED Gold standards.
- a seven-story, 250,000-square-foot office building completed in 1996, which includes a fitness center.
The campus has its own central utility plant, multi-purpose data center and also has acreage available for future development.
Roche will have an environmental remediation study done for the entire campus and file it with the state Department of Environmental Protection within the next several months, according to Lyon. The company plans to bring the campus up to proper environmental standards for any possible future use.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
