Hoffmann-La Roche, Nutley Township, and City of Clifton
Market and Financial Analysis, Redevelopment Planning, Nutley, NJ
Hoffmann-La Roche (“Roche”), a major pharmaceutical firm, vacated its 116 acre former headquarters site located in both Nutley Township and the City of Clifton, New Jersey, less than 10 miles from Manhattan. Roche, Nutley and Clifton together created a Repurposing Team to develop a master plan for the site’s redevelopment, driven by the most marketable uses for the property. RESGroup worked with EEK Architects to create a plan that will allow both communities to re-invent themselves economically and give Roche the opportunity to gradually redevelop their property to its most productive use. RESGroup completed the market and financial analysis to support three conceptual master plans, completed the economic impact analysis of each, and worked with the Team to select the plan that best meets the combined criteria for future development. RESGroup’s contact with market participants led to the identification of an anchor tenant for 650,000 square feet 1.2 million square feet of existing lab space, contributing substantial value to the site sold to the selected developer.