BRIDGEWATER, NJ—A joint venture partnership comprised of Advance Realty and CrossHarbor Capital Partners LLC has acquired the former Sanofi U.S. Research and Development Campus in Bridgewater, N.J.
Jones Lang LaSalle’s Dan Loughlin, managing director, represented Sanofi, while JM Zell also provided counsel in the transaction. Advance and CrossHarbor were represented in-house.
Totaling approximately 1.2 million sq. ft. of lab, office and GMP production, the campus will be rebranded as the New Jersey Center of Excellence. Tenants at the property include Amneal Pharmaceuticals and Ashland Specialty Ingredients.
“The former Sanofi U.S. Research and Development Campus is a jewel of Bridgewater and one of the most dynamic properties in the State of New Jersey,” Bridgewater Township Mayor Daniel J. Hayes, Jr., said. “The Garden State’s biotechnology and pharmaceutical industries are recognized national and international leaders, and this campus is surrounded by the type of highly skilled and educated workers that are integral to the success of these sectors.”
The new ownership is currently considering redeveloping the property for a variety of uses and Advance Realty, currently based in Bedminster, is planning to relocate its headquarters to the property.