A Swiss pharmaceutical titan operating 30 minutes outside of New York City is offering its 118-acre campus for redevelopment.
Jones Lang LaSalle is representing Hoffman-La Roche in the sale of the property at 340 Kingsland Street that spreads across Nutley and Clifton, New Jersey, the Star Ledger reported.
“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,” managing director Thomas Stanton told the Ledger.
Both towns have come up with pitches for the new site, including plans for a hotel, offices, light industrial warehouses, luxury condominiums and senior housing, according to the article. Perkins Eastman is the architect officials in the two cities have in mind, according to the company’s website.
Roche, which is relocating to Europe to cut costs, plans to sell the property by the end of 2015. The company’s clinical research center in New York City at 450 East 29th Street will be its only remaining U.S. operation. [StarLedger] — Angela Hunt