Transwestern Commercial Services and Colliers International on Thursday announced that Celularity signed a long-term lease for the entire 147,215-square-foot office building at 170 Park Ave. in Florham Park.
The clinical-stage cell therapeutics company is relocating its headquarters in April with completion expected in early 2020.
The TCS office leasing team of Principal James Postell, Managing Director Matt McDonough and Vice President Dan Ligorner represented the building owner and co-brokered the transaction with Colliers New Jersey Life Sciences Practice Leader and Executive Managing Director Charlie Hatfield and Vice President Ryan Healy, who represented Celularity.
The property is part of the two-building 170 – 180 Park Ave. office campus totaling 368,780 square feet. After substantial capital improvements, the campus has experienced tremendous leasing activity, with only 70,000 square feet of office space available for lease.
The Celularity lease marks the largest new office lease in New Jersey for the first quarter of 2019.
170 – 180 Park Ave. is situated adjacent to The Green at Florham Park, a 268-acre, master-planned campus consisting of restaurants, the training facility for the New York Jets, BASF’s North American Headquarters, the AVE Florham Park flexible-stay residential community, an ARCHER Hotel, and Summit Medical Group’s latest and most advanced location for comprehensive health services.
There are plans for additional office space and an active-adult residential community. Additionally, Florham Park provides convenient access to major highways, including Routes 24 and 10 and Interstates 287, 78, and 80.