Research giant to build 200,000 s/f HQ facility.

Advance Realty Group announced that a major build-to-suit agreement has been signed with Eisai Inc. for a 209,000 s/f U.S. headquarters facility at 100 Tice Boulevard in Woodcliff Lake, N.J. Advance acquired this site in 2004 and had been marketing it in conjunction with CB Richard Ellis as a build-to-suit headquarters opportunity.

Carl Eriksen and David Opper, of CB Richard Ellis, represented Advance Realty Group in the transaction, while Gregg Najarian, Daniel Foley, Chip Conklin and Peter Capuciati, of Studley, represented Eisai Inc.

"This corporate headquarters facility represents an enormous strategic win for the entire State of New Jersey," said Robert Martie, senior vice president and regional managing director with Advance Realty Group. "This announcement validates New Jersey's position as the pharmaceutical capital of the world and Bergen county specifically as a corporate headquarters destination. We are proud to welcome Eisai Inc. to Woodcliff Lake."

Greg Senkevitch, chief operating officer of Advance Realty Group, added, "We congratulate the entire team of professionals, including CBRE and Studley, on a job well done. This will be a world-class building for a world-class tenant. This is truly a win-win-win transaction for Eisai, Advance and the entire state." According to Carl Eriksen, senior vice president with CB Richard Ellis, "This is the first major, ground-up corporate headquarters development in northern Bergen county in over a decade. We're proud to be part of the team that brought Advance and Eisai together in this milestone transaction."

"We have worked with Eisai since 1998 and have represented the firm through many expansions in its current building," said Gregg Najarian, managing director of Studley. "Now as one of the leading U.S. pharmaceutical companies, a key objective of this assignment was for Eisai to establish its own corporate campus. In selecting its new headquarters, Eisai kept its commitment to Bergen county and to its employees by choosing an accessible location near the Garden State Parkway, which is considered one of New Jersey's pharmaceutical corridors."

The new Eisai Inc. headquarters facility will consist of three stories of quality class A office space totaling 209,000 s/f. Turner Construction will serve as the general contractor and Gensler is the architect for the project. A groundbreaking will be held this fall with an expected completion date of January 2007.

Eisai Inc. is a US pharmaceutical subsidiary of Eisai Co., Ltd., a research-based human health care company that develops and markets products in more than 30 countries.