Aventis Pharmaceuticals

Real Estate Weekly, Jan 17, 2001

Aventis Pharmaceuticals, the U.S. pharmaceutical business of Aventis Pharma AG, recently announced the completion of a lease agreement for more than 400,000 SF of office space in a new commercial development in Bridgewater, N.J. to accommodate expected company growth and consolidate select global business functions currently housed in various N.J. sites. The financial terms of the agreement were not disclosed.

The long-term lease, signed with the international real estate firm Hines, is for Bridgewater Crossing, a two-building office complex to be located on Commons Way, directly off Routes 22 and 202-206. The site will offer a unique amenity base, as it is adjacent to the Bridgewater Commons Mall and the 350room, full-service Bridgewater Marriott Hotel presently under construction. The Stauhach Company of New Jersey represented Aventis in the transaction.

Bridgewater Crossing will consist of two, 300,000 SF, eight-story, granite-clad, office buildings, featuring contemporary design and offering high-technology infrastructure and building systems. The property's unique 45-foot column spacing will create highly efficient, virtually column-free floor plates. Bridgewater I will house a cafeteria, a fitness center, and other amenities for the exclusive use of Aventis. Aventis is leasing the second, third, and fourth floors of the second building.

Construction will begin almost immediately, with the first of the two buildings expected to be available for occupancy by mid-2002. Construction of the second building is expected to be completed by the end of 2002.