45 East Willow St. in Millburn — Courtesy: Sheldon Gross Realty
By Joshua Burd
A life sciences company has expanded its footprint in Millburn with its purchase of a 5,000-square-foot commercial building, according to brokers with Sheldon Gross Realty.
Advanced Accelerator Applications, a subsidiary of Novartis, paid an undisclosed sum for the flex property at 45 East Willow St. The brokerage team noted that the building is adjacent to the buyer’s U.S. headquarters facility at 57 East Willow St., making it a natural choice as it looked for additional space.
“We originally worked with AAA several years ago, in its acquisition of 57 East Willow, which the company completely overhauled,” said Barbara Gross, an executive vice president with Sheldon Gross. “More recently, the company needed to expand, but 45 East Willow wasn’t on the market. We approached the owners and negotiated terms favorable to both parties. This, in turn, made it possible for AAA to keep its headquarters employees together at one location.”
Gross brokered the deal alongside Bob Nathin, also an executive vice president with the West Orange-based firm. They noted that Advanced Accelerator Applications, which was founded in 2002 and acquired by Novartis in 2018, is a radiologic and therapy company with 31 locations in 12 countries.
“AAA requires close access to highways and the airport,” Nathin said. “These two buildings are only a 10-mile drive to Newark Airport and within a half-hour of every major roadway in the central part of the state.”
