ROSELAND, NJ—Ashland Specialty Ingredients, a commercial unit of Ashland Inc., has signed a 75,000-sq.-ft. lease to occupy the entire fourth floor at 56 Livingston Ave. in Roseland, N.J. Building ownership, Mountain Development and Square Mile Capital Management, were represented by Jones Lang LaSalle’s Craig Eisenhardt, Jonathan Meisel, Robert Ryan and Peter Politi. Ashland was represented by Colliers International’s Bryn Cinque and James Bailey in the transaction.
Ashland Specialty Ingredients will be relocating several functions from its existing campus location in Wayne.
Standing four stories tall, 56 Livingston Ave. is located on 56 acres and underwent a multi-million-dollar renovation in 2001 under its previous owner, Merck & Co. Inc. Amenities at the property include a café, a fitness center, conference centers and outdoor volleyball and basketball courts. The property also offers an 8,500-sq.-ft. raised floor data center and full generator back up.
Approximately 350,000 sq. ft. of space is currently available for lease at the class A office building, which is a qualifying location for the New Jersey Economic Development Authority’s Grow New Jersey Assistance Program.