Bayer Healthcare Acquires More Acreage at 67 Whippany Road, Hanover, NJ

Bayer Healthcare east coast headquarters, 67 Whippany Road, Hanover Twp., NJ

HANOVER TOWNSHIP, NJ—Bayer Healthcare has acquired 86 acres of undeveloped land in Hanover from Vision Real Estate Partners and Rubenstein Partners, who developed the pharmaceutical giant’s adjacent east coast headquarters at 67 Whippany Road. Vision and Rubenstein purchased 67 Whippany Road , a 194-acre former Alcatel-Lucent campus, in 2010. The partnership developed the 675,000-square-foot, LEED-certified Bayer Healthcare facility following Bayer’s purchase of 94 acres there in 2012. Cushman & Wakefield’s Robert Donnelly Sr., Rob Donnelly and Marc Rosenberg served as landlord brokers in that initial trade as well as the latest transaction. Vision and Rubenstein did not respond by last night to a GlobeSt.com request for the dollar amount of the transaction or details of Bayer’s plans for the undeveloped property. “The land sale to Bayer solidifies this blue chip tenant’s commitment to New Jersey and marks yet another milestone for 67 Whippany Road , which is one of the last large-scale master-planned redevelopments in Northern New Jersey,” says Sam Morreale , founder and managing partner of Vision . “Our goal from the outset was to redevelop the site into a modern campus reflecting its highest and best use. We ultimately have created a benchmark in the drive to improve underutilized, infill office real estate to institutional grade.” Vision and Rubenstein also are developing MetLife Investments’ global headquarters on the 14-acre balance of 67 Whippany Road . The same Cushman & Wakefield team brokered that 185,000-square-foot, build-to-suit lease in 2015, with another group at the commercial real estate services firm – Bruce Mosler, Ethan Silverstein, David Susoreny, Andrew Merin, Bill Brown and Peyton Horn – representing the tenant. The project, which will be delivered in July, has been designed to LEED Gold Core and Shell, and LEED Platinum Interiors. With nearly 1.1 million square feet in approved corporate space for Bayer Healthcare and MetLife Investments , Vision and Rubenstein have effectively replaced the 1.4 million square feet of obsolete Alcatel-Lucent offices existing when the partnership acquired 67 Whippany Road . The companies’ achievements and the campus have been recognized with awards from NAIOP New Jersey, NJBIA, the Morris County Economic Development Corporation, United Way of Northern New Jersey and the US Green Building Council New Jersey .