Intercept Pharmaceuticals, a biopharmaceutical company focusing on the development of drugs to treat chronic liver diseases, inked a 26,174-square-foot office lease in the Crum & Forster-owned building in Morristown, according to a Monday announcement from CBRE.
The firm is relocating its global headquarters from 10 Hudson Yards in Manhattan to the 213,857-square-foot property located at 305 Madison Ave.
Situated on 16.2-acres in the heart of Morristown, the facility was completely renovated in 2018. The three-story office property provides tenants with plenty of amenities, including a fitness center, coffee/smoothie bar, auditorium and conference center, outdoor patio and rooftop space, covered parking and security.
CBRE’s Conor Dolan spearheads the leasing campaign at the property and represented Crum & Forster in the lease negotiations.
“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,” Dolan said. “We are pleased to welcome Intercept Pharmaceuticals into the Crum & Forster building and look forward to welcoming other high-quality tenants as well.”
According to the company’s website, Intercept started as a vision in founder Mark Pruzanski’s small New York City apartment and has now grown into a biotech firm that is nearly 500 people.