The Hampshire Cos. brokers 16,903 s/f lease in Morristown
Morristown, NJ — The Hampshire Companies, a full-service, private real estate investment and development firm, announced it has negotiated a 16,903 s/f lease with Sanofi’s Consumer Healthcare division at 21 South St., a 43,691 s/f class-A office building located in downtown Morristown. The lease brings the newly renovated building to full occupancy. Sanofi is scheduled to welcome its Consumer Healthcare employees to the space in the 4Q of 2024.
A division of Sanofi, a global healthcare company, Consumer Healthcare delivers consumer-driven, innovative medicines and products for allergy; pain; digestive wellness; cough, cold and flu and physical and mental wellness. Earlier in 2023, Sanofi announced it would also be relocating its flagship N.J. location from Bridgewater, NJ to M Station West, a 260,000 s/f office building currently under construction in Morristown. The move is expected to bring 1,900 employees to Morristown by 2025.
The move of Sanofi’s Consumer Healthcare division to 21 South will bring an additional 70 employees to Morristown and will allow its employees to enjoy the wide range of shopping, dining and entertainment options that have made Morristown one of the region’s most exciting downtowns. Sanofi will lease the building’s entire first-floor retail space, the entire second-floor office space and will partially occupy the building’s available third-floor office space.
Constructed as a bank in 1911, The Hampshire Companies reimagined 21 South Street in 2021 as a workplace that inspires and excites today’s workforce. Blending the building’s historic brick and iron elements with modern design touches, 21 South Street is now Morristown’s premier boutique office building. The Hampshire Companies relocated its headquarters to a 25,665 s/f space on the third and fourth floors at the building in 2021.
“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 The Hampshire Companies. “Every element of 21 South Street’s transformation as been designed with that balance in mind. We are excited to welcome Sanofi to this new space in downtown Morristown.”