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News release

EAST RUTHERFORD, N.J.

Jones Lang LaSalle Tapped by Hoffmann-La Roche to Sell Former R&D Campus

Firm tapped to market, sell high-value, nearly 2 MSF office, former headquarters and R&D campus for Hoffmann-La Roche; 116-acre property ideally located in Northern New Jersey


​Jones Lang LaSalle was selected by Hoffmann-La Roche Inc.  to sell its nearly 2 million-square-foot, former U.S. pharmaceuticals headquarters, and research and development campus at 340 Kingsland Street in Nutley, N.J.


The JLL team handling the sale is led by Thomas Stanton, managing director, and includes John Buckley, vice president, and Joseph Garibaldi, managing director with the firm’s Capital Markets group. The group will work closely with the Roche Divestment team and Nutley site management.


“The proximity of Roche’s campus to major transportation corridors, mass transportation hubs and the surrounding urban demographic make this property a uniquely desirable site,” said Stanton. “JLL has a broad range of experience in marketing high-value sites of this nature with great potential for redevelopment to ensure a positive outcome for all stakeholders involved."


The Roche campus encompasses 116 acres of land in both the township of Nutley in Essex County and the city of Clifton in Passaic County. The property borders Route 3 and is located at 340 Kingsland Street, between Darling and Cathedral avenues. The complex is just 20 minutes from Midtown New York and Newark International Airport, and is in close proximity to major transit hubs in Secaucus and Montclair.


“We selected JLL based on its comprehensive analysis of the possibilities for the Roche site and proven track record of successfully divesting complex, technically-sophisticated properties,” said Tom Lyon, vice president and head of the Roche Nutley site. “Our Nutley campus is one of the best suited properties for re-development in New Jersey, and I look forward to working with JLL to find the most qualified developer for Roche with a vision for revitalizing the property that will benefit the surrounding communities for years to come.”


The Roche Nutley Campus is comprised of five high-value building assets, two of which are modern R&D properties. The 504,000-square-foot 123 Building was built in 1994, with a new wing added in 2001 (123A). It includes chemistry, biology, vivarium and support space typical of a fully integrated research complex, including a 130-seat auditorium, offices and collaboration space. The 176,000-square-foot 102 Building can operate as a stand-alone integrated R&D facility. Although older, it was
completely renovated in 2011 and features an 85-seat auditorium and an enclosed, glass walkway to Building 123. The 115 Building offers 281,456 square feet of manufacturing-capable area and includes the interstitial space necessary for manufacturing functions. It also features space suitable for high-potency tablet manufacturing that was renovated in 2011.


In addition, the campus includes two modern office buildings. Building 76 is a 15-story, 325,000-square-foot office property that is newly renovated and boasts LEED Gold certification. Building 1 is a seven-story, 250,000-square-foot office building built in 1996. It is furnished to accommodate 887 people and also houses a fitness center.


The campus features an on-site central utility plant, a multi-purpose data center as well as significant excess acreage available for future development.


Roche will complete a very thorough and comprehensive environmental remediation investigation report on the entire campus, which will be filed with the New Jersey Department of Environmental Protection within the upcoming months. Roche plans to implement approved remediation options designed to allow for any conceivable future use of the property.


JLL is a leader in the northern/central New Jersey commercial real estate market, with more than 500 professionals and support staff providing agency leasing, tenant representation, industrial services, strategic consulting, project and development services, property management and investment sales/capital markets services to New Jersey's leading corporate tenants, investors and landlords. The firm, which assists clients from three full-service offices in Parsippany, Iselin (Metropark) and East Rutherford, also acts as local service provider for JLL global and national corporate clients in need of real estate assistance in New Jersey. For further information, visit www.jll.com.


About Hoffmann-La Roche Inc.
Hoffmann-La Roche Inc. (Roche), based in Nutley, N.J., is a member of the Roche Group, one of the world's leading research-oriented healthcare groups with core businesses in pharmaceuticals and diagnostics. For more than 100 years, Roche has built a legacy of innovation and continues to focus on developing new, innovative and clinically differentiated medicines that are beneficial for healthcare professionals and patients. For more information, access www.roche-nutley.com.

About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $4.0 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 3.0 billion square feet. Its investment management business, LaSalle Investment Management, has $47.6 billion of real estate assets under management. For further information, visit www.jll.com.