Chase is one of two new retail users announced this week for Prism Capital Partners’ ON3 campus along Route 3 in Clifton and Nutley. — Courtesy: Prism
By Joshua Burd
Prism Capital Partners has signed new leases to bring Chase and Chipotle to its ON3 campus in Clifton and Nutley, expanding its retail mix after the arrival of Starbucks late last year.
The bank, which will occupy 3,500 square feet, expects to break ground in early fall on a branch that will have drive-through teller and ATM service. The building will front Route 3 in Clifton, as will the new 2,325-square-foot Chipotle restaurant that will offer both sit-down dining and drive-through service, with construction slated to begin in December.
RIPCO Real Estate represented Prism in the transactions, while The Goldstein Group and Newmark represented the respective tenants.
“Chase and Chipotle are both excellent additions at ON3, exemplifying our commitment to creating an unmatched campus experience in the region,” said Edwin Cohen, a principal partner with Prism. “We continue to prioritize our role as a good neighbor, bringing in well-known brands to support the ON3 community and area residents alike, and developing the campus’ infrastructure to accommodate its growth.”
To that end, Prism Construction Services is finalizing the construction of new ingress and egress lanes to accommodate traffic flow from Route 3 to the property’s retail pad sites, according to a news release. The team is supervising site work for the Chase build-out and providing turnkey development service for Chipotle’s building.
The operators will be the second and third retail tenants at the 116-acre mixed-use campus, which Prism acquired in 2016. It quickly began to reinvent the former Hoffmann-La Roche complex, attracting a host of blue-chip office tenants alongside major health care, life sciences and academic users — with the ultimate goal of creating a full-fledged, mixed-use campus that includes housing.
This summer, Hackensack Meridian Health & Wellness Center at Clifton opened its doors at ON3, joining 1.47 million square feet of fully occupied office space, research and lab facilities and convenience retail, the news release said. Prism, which is based at the campus, is planning more than 2 million square feet of additional space.
Other existing occupants include Hackensack Meridian School of Medicine and the Hackensack Meridian Health Center for Discovery and Innovation, Eisai Inc., Quest Diagnostics, The Ralph Lauren Corp., Seton Hall University’s Graduate College of Nursing and School of Health and Medical Sciences, Modern Meadow, Y-mAbs Therapeutics and Proponent Federal Credit Union.
Prism lands approvals for long-awaited housing phase at ON3, among other major projects
