Biopharmaceutical company signs lease to relocate HQ to NJ

A biopharmaceutical company focused on developing drugs to treat chronic liver disease will move its global headquarters from Manhattan to Morristown.

CBRE announced Intercept Pharmaceuticals signed a lease for 26,174 square feet at 305 Madison Ave. in Morristown on Feb. 14.

The company will occupy space at the Crum & Forster-owned building, which boasts a total 213,857 square feet, and was renovated in 2018. It is currently based at 10 Hudson Yards in New York.

“Intercept Pharmaceuticals’ relocation from New York City to Crum & Forster’s world class headquarters in Morristown demonstrates the allure of premier office space and competitive rents that New Jersey has to offer,” Conor Dolan, who leads leasing at the property, said in a statement. “We are pleased to welcome Intercept Pharmaceuticals into the Crum & Forster building and look forward to welcoming other high-quality tenants as well.”

Dolan represented Crum & Forster in the lease negotiations.

The three-story office building sits on more than 16 acres and offers amenities including a fitness center, conference center and auditorium, rooftop space and covered parking.