Cushman & Wakefield Serves as a Real Estate Advisor to sanofi-aventis in Lease for its U.S. Headquarters

The world’s third largest pharmaceutical company will move to Bridgewater, NJ, to accommodate its growth.

(PRWEB) November 11, 2005 -- Cushman & Wakefield of New Jersey, Inc. announced today that the company served the sanofi-aventis Group real estate team as an advisor in the site search and lease negotiation processes, resulting in the company’s agreement to move its U.S. headquarters from its current location at Somerset Corporate Center in Bridgewater to 55 Corporate Drive, also in Bridgewater. The move will enable sanofi-aventis to combine its headquarters activities into one location and to support future growth. Financial details of the agreement were not disclosed.

The new location will serve as the U.S. commercial headquarters for sanofi-aventis. The move is scheduled to begin in December 2005.

The transaction represents one of the largest leases in recent history in New Jersey.
“The lease is good news for New Jersey and good news for the office market.” noted Robert Donnelly, vice chairman of Cushman & Wakefield. Donnelly led the sanofi-aventis advisory team, working with Gualberto “Gil” Medina, executive managing director and head of New Jersey operations for Cushman & Wakefield.

The three-building complex at 55 Corporate Drive is situated on 150 acres on Route 206 near Interstates 287 and 78. The current plans call for a total reconfiguration of the interior space of the existing buildings. Full occupancy of the approximately 670,000 square feet is expected by the end of 2006.

A joint venture between The Gale Company, SL Green and a client of Principal Real Estate Investors acquired the 55 Corporate Drive office complex from AT&T Corporation earlier this year.

Sanofi-aventis currently maintains three sites in Bridgewater: Somerset Corporate Center, Bridgewater Crossings and the Science & Medical Affairs (S&MA) campus facility. Following completion of the move, all U.S. Pharmaceutical Operations employees will be located at the new site. Somerset Corporate Center will house an expanded Sales Training Center, the Northeast Regional Sales Office, and Global employees. The S&MA Campus and the Bridgewater Crossings facilities will be dedicated to S&MA activities.

About Cushman & Wakefield, Inc.

Cushman & Wakefield is the world’s largest privately held real estate services firm. Founded in 1917, the firm has 189 offices in 57 countries around the globe, and more than 11,000 talented professionals. Cushman & Wakefield delivers integrated solutions by actively advising, implementing and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. These solutions include helping clients to buy, sell, finance, lease, and manage assets. The firm also provides valuation advice, strategic planning and research, portfolio analysis, and site selection and space location assistance, among many other advisory services. To find out more about Cushman & Wakefield, please call 1-800-376-3133, or visit the firm’s web site at www.cushmanwakefield.com.

Cushman & Wakefield of New Jersey, Inc. opened its first office in New Jersey in 1970 and has since emerged as one of the largest commercial real estate firms serving the needs of business in the state. The New Jersey headquarters is located at One Meadowlands Plaza, East Rutherford. In addition, Cushman & Wakefield has branch offices at 9 Campus Drive in Parsippany and at 333 Thornall Street in Edison.

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