The development team of SJP Properties and Scotto Properties recently welcomed Deloitte LLP to the first of two buildings at M Station, a planned office and retail development in downtown Morristown. — Courtesy: SJP Properties/Gensler
By Joshua Burd
Pharmaceutical giant Sanofi is moving its New Jersey team to Morristown, where it will occupy 260,000 square feet of new ground-up office space built by SJP Properties and Scotto Properties.
The global life sciences company, which is moving some 1,900 employees currently based in Bridgewater, will occupy the planned second phase of the developers’ M Station campus on Morris Street, joining Deloitte LLP at a site that has transformed a piece of the downtown. That move is slated to take place in phases during late 2024 and early 2025, as Sanofi shifts to what is poised to be a cutting-edge, light-filled facility at M Station West that will encourage innovation and help the company continue to attract talent.
Aside from Deloitte, the drug maker will soon join Valley Bank as new arrivals in Morristown, with the lender set to occupy a separate ground-up office and retail building also developed by SJP and Scotto.
“Every town needs a symbiotic blend of high-quality office, residential and retail development in order to create a thriving local economy,” said Steve Pozycki, founder and CEO of SJP Properties. “Mayor Dougherty and his administration understood the necessity of bringing high-caliber corporate tenants to downtown Morristown, which offers an energized nightlife, but lacked the daytime foot traffic critical to supporting local retailers that are the lifeblood of the community.
“Over the past three years, SJP’s developments have welcomed three major corporate employers — Deloitte, Valley Bank and now Sanofi — and thousands of employees, to Morristown, bolstering the retail market and proving that companies want new, live/work/play environments in transit-oriented downtowns in order to successfully attract and retain the best talent.”
Cushman & Wakefield and CBRE represented the landlord and tenant, respectively. MyCentralJersey.com first reported Sanofi’s pending move to Morristown, while ROI-NJ confirmed that the company would occupy M Station West.
The blockbuster lease comes just months after Deloitte took occupancy at M Station East, leasing 110,000 square feet within the new ground-up office and retail complex near the Morristown train station. The deal with the professional services firm predates the pandemic and helped kick off SJP and Scotto’s redevelopment of what was a dated strip mall on the outskirts of the downtown.
Based in Paris, Sanofi currently leases 675,000 square feet at a sprawling campus in Bridgewater, its home in New Jersey for some two decades. The Gensler-designed M Station project will serve as its main location in Morristown, while it also plans to take 17,000 square feet separately for its consumer health care team.
“The relocation of Sanofi’s flagship location within New Jersey gives us the opportunity to provide our people with more collaborative and digitally connected workspaces,” a company spokesman said. “This exciting move will allow us to improve our engagement, innovation and patient-centered solutions, while incorporating our flexible work environment.
“Sanofi has long been an integral part of New Jersey’s vibrant life sciences industry and our continued investment with these two new, modernized workspaces reaffirms our commitment to the state.”
The representative added that the move is part of a global program to modernize Sanofi workspaces around the world, pointing to several recently opened or renovated sites such as its global headquarters in Paris and the Cambridge Crossing site near Boston, as well as two additional facilities in France.
“On behalf of the entire town of Morristown, I am thrilled to welcome Sanofi and their team to our vibrant business community,” Mayor Tim Dougherty said. “The addition of this high-caliber global organization will surely invigorate Morristown’s downtown while supporting established retailers and restaurants.
“Health care is an integral part of the Morristown community and the addition of this important life sciences campus will only reinforce Morristown’s already exemplary position in this industry. Our world-class charming town, with excellent housing options and Midtown Direct train line, will no doubt be a perfect home for Sanofi’s flagship New Jersey location. We look forward to our new neighbors in 2024!”
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