Page 10 - RE-NJ

8 JANUARY 2025
NJIT TO OPEN RESEARCH CENTER
AT NEST CAMPUS IN KENILWORTH
New Jersey Institute of Technology
is planting a fl ag at the Northeast
Science and Technology Center in
Kenilworth, with plans to open a
new research hub at the fast-growing
campus.
The school, along with Gov. Phil
Murphy and a joint venture led
by Onyx Equities, announced
in mid-December that it would
occupy 25,000 square feet as the
property’s fi rst academic partner,
marking another milestone in the
repositioning of the former Merck &
Co. site on Galloping Hill Road. Its
space at building 15 NEST will be
home to the NJIT @ NEST Center
Courtesy: Onyx Equities
The new NJIT @ NEST Center for Translational Research in Kenilworth will occupy part
of a 1.2 million-square-foot building now known as 15 NEST, which up until recently
served as Merck & Co.’s global research headquarters.
Mulberry Commons - Newark, NJ
for Translational Research, a facility
that it says will allow professors and
students to conduct groundbreaking
research and accelerate the
transformation of discoveries into
tangible solutions for real-world
problems.
“New Jersey is at the forefront of life
sciences and technology innovation,
and this partnership between NJIT
and the NEST Center solidifi es
our position as a global leader in
these critical industries,” Murphy
said. “By investing in academic-
industry partnerships, we’re not only
fostering groundbreaking research
but also creating jobs and driving
economic growth that benefi ts all
New Jerseyans. I’m proud to see
NJIT and NEST lead the way in
shaping the future of science and
technology.”
Dan Loughlin of JLL and Jonathan
Scheinberg of Outshine Properties
represented the ownership group of
Onyx Equities, Machine Investment
Group and Pivot Real Estate
Partners, while a Murphy Schiller
& Wilkes LLP team led by Charles
J. Wilkes served as leasing counsel
to NJIT. The deal follows the recent
announcements that Revlon will
relocate its science and innovation
lab to a separate 62,000-square-foot
space at 15 NEST, while artifi cial
intelligence startup CoreWeave
will establish a massive data
center at 11 NEST.
Notably, the announcement said,
the location of CoreWeave and NJIT
will support the highly acclaimed
university’s growth in machine
learning, computer vision, natural
language processing and robotics,
with the goal of becoming a major
player in AI innovation in higher
education.
“The ecosystem created between the
private and public sector and both
large companies and startups is best
anchored by academia,” said John
Saraceno, co-founder and managing
principal of
Onyx Equities.
“For these
reasons, we felt
it was critical to
bring NJIT — an
institution of the
highest caliber
— to NEST.
John Saraceno
The decision
for the university to move these
facilities to the NEST campus will
positively impact both health care
and humanity.”
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