Hampshire inks 17,000 sq. ft. Office Lease in Morristown with Sanofi Consumer Healthcare
The Hampshire Cos. has leased up a newly renovated office building in downtown Morristown after securing a nearly 17,000-square-foot deal with Sanofi’s Consumer Healthcare unit.
According to a news release, the global health care company will occupy the first and second floors and part of the third floor at 21 South St., a 43,691-square-foot property just off the Morristown Green. The 16,903-square-foot deal follows Sanofi’s announcement earlier this year that it would move its flagship New Jersey office to Morristown, having leased 260,000 square feet at SJP Properties’ M Station West building that’s currently under construction.
Its location on South Street will house a division that focuses on medicines and products for allergy, pain, digestive wellness, cough, cold and flu and physical and mental wellness. The five-story building also serves as Hampshire’s headquarters.
“To find success in today’s office leasing environment and appeal to high-quality tenants like Sanofi’s Consumer Healthcare, buildings must successfully combine location, adaptability and modern design,” said John Durso, chief investment officer and executive vice president of development for Hampshire. “Every element of 21 South Street’s transformation has been designed with that balance in mind. We are excited to welcome Sanofi to this new space in downtown Morristown.”
Built in 1911 as a bank, 21 South St. is now a boutique office building that incorporates its historic brick and iron elements with modern design touches, Hampshire said. The real estate firm moved its headquarters to a 25,665-square-foot space on the third and fourth floors in 2021, following its renovation of the property.
Around 70 employees from Sanofi Consumer Healthcare will occupy the building starting in late 2024, the news release said. They’ll be among nearly 2,000 workers to arrive in Morristown once the company relocates its flagship New Jersey office from Bridgewater to M Station, which is slated to take place in late 2024 or early 2025.