The Offices at Bedminster at 500 and 550 Hills Drive in Bedminster — Courtesy: JLL
By Joshua Burd
A global pharmaceutical company is expanding in the U.S. with a newly completed, 7,300-square-foot lease at a Bedminster office building, in a newly announced deal by Colliers.
According to the brokerage firm, India-based Alembic Pharmaceuticals committed to 10 years at 550 Hills Drive, part of a two-building campus known as The Offices at Bedminster. The deal follows recent renovations at the property by the landlord, Northeast Capital Group, which purchased the building last year and subsequently tapped Colliers as its leasing team.
“This premier property offers the amenities, access and flexible work environments that preeminent companies like Alembic deserve,” said Sam Horowitz, an executive managing director with Colliers. “We were excited to be able to continue to help bring another quality tenant to the complex. It has been a pleasure to work with the team at Northeast Capital Group, who worked diligently to bring this deal to fruition.”
Horowitz represented ownership alongside Executive Managing Director Chris Hovanec, Associate Director Jack Callahan and Associate Ray Iodice. They noted that Alembic, which
manufactures and markets generic pharmaceutical products all over the world, signed the lease as it prepares for further expansion across the U.S.
Its new home features an upgraded lobby and a new fitness center, with easy access to interstates 78 and 287 and amenities such as shopping, lodging and dining options.
“We are pleased to welcome Alembic Pharmaceuticals to the building and include them among our roster of leading companies that call The Offices at Bedminster home,” said Joel Kiss, CEO of Northeast Capital Group. “The property offers terrific amenities both within the complex and in the immediate vicinity, and we couldn’t be more pleased to provide this quality working environment for our tenants.”