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Deals & Dealmakers

Nestle leases 180,000 s/f at Center for Excellence

JLL has completed a new lease for building owners Advance Realty and CrossHarbor Capital Partners LLC with Nestlé Health Science at the New Jersey Center of Excellence, 1041 Route 202/206 in Bridgewater, N.J.

Nestlé Health Science, a global developer of innovative nutritional therapies, leased the entire 180,000 s/f Building JR-2 within the Class A, 850,000 s/f research and development campus.

The company will repurpose the building as a product technology center for the development of nutritional health management therapies.
Building owners Advance Realty and CrossHarbor Capital Partners were represented by Daniel Loughlin, international director and head of New Jersey brokerage; Craig Eisenhardt and Robert Ryan, senior vice presidents; and Scott Stange, vice president, all with JLL.

“New Jersey continues to enjoy burgeoning demand for high-end research and development space among midsize and emerging life sciences companies and biotechnology firms companies,” said Loughlin.

“The New Jersey Center of Excellence offers move-in -ready research and innovation space that is ideally located in a region with a highly skilled workforce. Nestlé joins Ashland and Kashiv Pharma at the state-of-the-art complex.”

Advance Realty and CrossHarbor Capital Partners acquired the New Jersey Center of Excellence at Bridgewater in 2013 from a top-tier global pharmaceutical company, which formerly used the site as its North American research and development campus.

The new owners tapped JLL to lease the complex to take advantage of the firm’s history and knowledge of the property, as JLL had represented the previous owner in the sale of the complex.

In addition, prior to the site’s acquisition by Advance Realty and CrossHarbor Capital Partners, JLL completed two new, direct, long-term leases totaling 345,000 square feet at the property for the seller.

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