Jones Lang LaSalle


Sanofi-Aventis Buys Land in Arizona for New Facility

Sanofi-Aventis (NYSE: SNY), with U.S. headquarters in Bridgewater, announced today that it has bought 11.54 acres at a high-technology campus called Innovation Park in Arizona and will move its research and development center there. Terms of the deal were not disclosed.
The move keeps the facility in Oro Valley, Ariz. but with a shift from Hanley Boulevard to Innovation Park. The facility will be approximately 100,000 sq. ft., more than double the space of its current site. Construction is expected to start in the first quarter of 2007. The 65 employees at the current facility are expected to move to the new location by the end of 2008. The company said it is also planning to recruit 20 more scientists over the next three to five years. Shares slid 13 cents to $45.26 in early trading. - Varsha Gupta