100 Park Ave. in Florham Park — Courtesy: CBRE
By Joshua Burd
Global pharmaceutical firm AbbVie has leased more than 90,000 square feet in Florham Park, where it will occupy part of the acclaimed BASF North American headquarters building.
The drugmaker is taking 92,438 square feet of office space at 100 Park Ave. under a direct deal with BASF, placing it inside the 286-acre, master-planned campus known as The Green at Florham Park. Its new home is just west of Route 24 and minutes from interstates 287 and 78, while not far from a larger space in Madison that AbbVie had listed for sublease.
CBRE’s David Opper and Conor Dolan represented BASF, while the firm’s Jeff Babikian, Jon Williams and Mike Nieliwodski represented AbbVie. A representative for the pharma company did not immediately return a request for comment.
The lease comes after BASF opened the 325,000-square-foot building in 2012 as part of a build-to-suit with The Rockefeller Group, which spearheaded the high-profile adaptive reuse of a former ExxonMobil research campus at site. BASF, the German chemical giant, purchased the building that same year from Rockefeller Group, as the surrounding campus has continued to grow and attract new users.
The AbbVie deal took place in the fourth quarter, when it also reportedly subleased its space at 5 Giralda Farms in Madison to fellow drugmaker Bristol-Myers Squibb. The sublease totaled more than 200,000 square feet, according to market reports, helping AbbVie shed space it inherited with its 2020 acquisition of Allergan.
Based in North Chicago, Illinois, Abbie focuses on areas such as immunology, oncology, neuroscience, eye care, virology, women’s health and gastroenterology, according to its website. In Florham Park, it joins users such as the New York Jets, Summit Health, an Archer hotel and a host of others.
