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News release

EAST RUTHERFORD, NJ

JLL Inks 180,000-SF Lease with Nestlé Health Science

Tenant leases entire Building JR-2 for use as new R&D facility at New Jersey Center of Excellence at Bridgewater


EAST RUTHERFORD, N.J., October 9, 2015 — 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-square-foot Building JR-2 within the Class A, 850,000-square-foot 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.

The New Jersey Center of Excellence at Bridgewater is a premier research and development campus located on 110 acres in Somerset County, N.J. Centrally located within the Boston – Washington, D.C., life science corridor, the complex encompasses 850,000 square feet of laboratory, office, GMP production and warehouse facilities, and also features a full-service cafeteria and fitness and conference centers. In addition, the campus’s proposed “Town Center” development with hotel, retail, and multifamily will result in a dynamic “live-work-play” environment.

Approximately 300,000 square feet of R&D space remains available, in addition to 400,000 square feet in build-to-suit opportunities, at the multi-tenant research and development technical center. The campus offers convenient access to Interstates 78 and 287 as well as the Garden State Parkway, New Jersey Turnpike/I-95 and Routes 22 and 28. The New Jersey Center of Excellence at Bridgewater is located directly off Route 202/206 and has more than a quarter mile of frontage on Interstate 287.

JLL is a leader in the northern/central New Jersey commercial real estate market, with nearly 800 professionals and support staff providing agency leasing and property marketing, tenant representation, industrial services, strategic consulting, occupancy planning, workplace strategies, project and development services, property and facility 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 a local service provider for JLL’s global and national corporate clients in need of real estate assistance in New Jersey. JLL’s New Jersey operations were honored by NJBiz magazine as one of its 2015 Best Places to Work in New Jersey.

About JLL
JLL (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. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $56.0 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.