95 Greene St. in Jersey City — Courtesy: Thor Equities Group
By Joshua Burd
Another life sciences company is headed to Jersey City from Brooklyn under a newly completed lease with Thor Equities Group, in a deal arranged by brokers with JLL.
RegenLab USA, which manufactures devices for the production of regenerative cell therapy, will occupy 15,792 square feet on the sixth floor of 95 Greene St. It’s slated to do so in the second quarter, when it will relocate from the Brooklyn Army Terminal, with plans to use the space for office, research and manufacturing of medical devices and platelet-rich plasma products.
JLL Senior Managing Director Dan Spero, Managing Director Blake Goodman, senior vice presidents John Cahill and Bob Ryan and Executive Vice President Craig Eisenhardt represent ownership at 95 Greene St., a roughly 350,000-square-foot property that Thor has fitted out to be lab-ready. They also represented RegenLab in the lease negotiations.
“We are pleased to welcome RegenLab to 95 Greene Street and are confident their talented team will thrive in their new state-of-the-art headquarters,” said Melissa Gliatta, chief operating officer of Thor Equities. “Ideally located in one of the leading life science markets in the country, 95 Greene offers a range of amenities, unmatched access to talent and central location just minutes from Manhattan.”
RegenLab is the latest tenant in the past 18 months to relocate from New York City to 95 Greene St., JLL said. To date, the leasing team has secured some 75,000 square feet in new commitments from tenants including Jersey City Medical Center and cellular agriculture company Fork & Good Inc.
“We are thrilled to welcome RegenLab USA to New Jersey,” said Wes Mathews, CEO and president of Choose New Jersey. “With the growth and expansion of the 95 Greene life sciences hub in Jersey City, RegenLab will benefit from the twin pillars of our state’s value proposition: having the nation’s most talented workforce, and an unbeatable location. With this announcement, Jersey City is well-positioned to be a continued leader in the life sciences industry.”
Originally built as a manufacturing plant for Colgate Palmolive, 95 Greene spent two decades as an office building under the ownership of SJP Properties. Thor acquired the eight-story property in 2020 for $94.5 million and set out to reposition it to meet surging demand from life science companies seeking custom space in well-located markets.
JLL noted that the property has abundant power resources served by multiple utility grids, 13- to 15-foot ceiling heights, secured interior loading docks, an on-site life safety generator and flexible floor plates. Thor worked with SGA Architects to complete the comprehensive adaptive reuse project, which included extensive upgrades to mechanicals, HVAC, vertical conduits and a new rooftop generator.
The site also has on-site underground parking for 125 vehicles.
“We are seeing significant activity from companies like RegenLab seeking to relocate from New York to best-in-class properties highly accessible to a skilled labor pool,” Goodman said. “95 Greene offers a powerful destination given its proximity to both New York City and New Jersey talent with great transit access from both sides.”