Warren Corporate Center in Warren — Courtesy: Rubenstein Partners LP/Vision Real Estate Partners
(Editor’s note: This story was updated Wednesday, May 22, with additional information from Rubenstein Partners LP and Vision Real Estate Partners, the owners of Warren Corporate Center.)
By Joshua Burd
Regeneron Pharmaceuticals Inc. has leased nearly 127,000 square feet at the sprawling Warren Corporate Center campus, with plans to relocate from another location just off Interstate 78.
The biotech giant, which is based in Tarrytown, New York, will occupy building 300 at the Vision Real Estate Partners property, part of a five-building, 820,000-square-foot complex just south of I-78 in Warren. A Regeneron spokesman confirmed the deal, adding that the company expects to move during the third quarter of 2025 and will vacate its existing location at 110 Allen Road in the Basking Ridge section of Bernards.
Vision’s partner at the property, Rubenstein Partners LP, noted in a subsequent news release that the deal brings Warren Corporate Center to more than 95 percent occupancy. Cushman & Wakefield’s Robert Donnelly Sr., Robert Donnelly Jr., Paul Giannone, Kevin Carton and Todd Elfand represented ownership in the deal, while the firm’s Josh Cohen and Marc Rosenberg represented Regeneron.
CBRE included the 126,678-square-foot lease in its first-quarter recap of the northern and central New Jersey office market. According to the report, the transaction propelled a 430 percent spike in quarter-over-quarter leasing activity in the submarket around interstates 287 and 78, which registered only 37,000 square feet of deal volume in the fourth quarter of 2023, as well as a 45 percent year-over-year jump for the broader region.
“Large user demand in Q1 was largely driven by continued strength of the health care/life science sector,” CBRE wrote in its Q1 market report. “The industry accounted for three of the top five largest transactions of the quarter and 34 percent of total leasing activity.”
The Regeneron deal is the latest at Warren Corporate Center since Vision and Rubenstein Partners acquired the 176-acre campus in 2016. The firm set out to reposition the former Lucent Technologies and Citigroup property under a plan that largely centered on constructing a new standalone, 19,000-square-foot amenity building for tenants that has an outdoor amphitheater, indoor and outdoor patio dining, multifunction conference areas, a full-service cafe with a coffee bar, a modern fitness center with locker rooms and other spaces.
Subsequent deals have included a 315,000-square-foot lease by Everest Reinsurance Co. at 100 and 200 Warren Corporate Center Drive and a 360,000-square-foot deal with PTC Therapeutics at 400 and 500 Warren Corporate Center Drive. Vision and Rubenstein sold buildings 100 and 200 in 2021.
PTC Therapeutics takes 360,000 sq. ft. at Warren office campus in lease with Rubenstein, Vision
