The ON3 campus in Nutley and Clifton — Courtesy: Prism Capital Partners
By Joshua Burd
Prism Capital Partners has assembled a team to oversee its new ON3 campus in Nutley and Clifton, including three former Hoffmann-La Roche employees who worked at the site for a combined 90 years.
The five-member team will oversee day-to-day operations at what is poised to become a mixed-use research and business campus, Prism said Thursday. They include Richard Margerison Jr.,
David Altenau, Tim Keating, Mike Meechan and Ido Weinberger, who will help run the 116-acre complex as the firm prepares to welcome several major tenants.
“ON3 is a highly complex site from an operational standpoint,” said Eugene Diaz, principal partner with Prism. “Beyond the sheer scope of the project’s mixed-use master plan, this campus houses an intricate utility infrastructure, with capability to produce 10-megawatt cogenerated electricity, 15 tons of cooling capacity and 150,000 pounds of steam boiler capacity per hour.
“Additionally, ON3’s 1.2 million square feet of existing office and research space contains sophisticated and distinct building systems — with more to come. Simply put, we needed the best people and strongest leaders on the ground as we move forward with the redevelopment and welcome the first tenants to ON3.”
Margerison, a senior property manager with Prism, is serving as ON3 team lead, according to a news release. He joined the company in 2015 with more than two decades of experience in large-scale property and facilities management, project management and construction.
Altenau, a 28-year Hoffmann-La Roche employee, has been named director of operations for ON3. Prism said he brings deep knowledge of utility operations and maintenance at the site, which at one time housed more than 6,000 employees and serviced critical research and pharmaceutical production operations.
As a property manager for ON3, Keating provides building oversight and heads campus security, the news release said. The firm touted his knowledge of building financials and mechanical systems after a 31-year career with the pharmaceutical giant, along with his service with the Nutley Rescue Squad and relationships with local EMS teams.
Meechan, who joined Hoffmann-La Roche in 1984, is ON3’s facilities manager in charge of construction management. With a strong background in mechanical engineering, he is overseeing demolition and site prep, as well as new development and redevelopment on the campus.
Weinberger recently joined Prism as a senior analyst and leads the underwriting for the ongoing development at ON3, the news release said. That includes commercial lease analysis and debt and capital markets research.
“Rick, Dave, Tim, Mike and Ido make a great team, each bringing specialized experience and an enthusiasm for feeding off the others’ knowledge,” said Prism’s Jonathan Hoff, senior vice president for management services. “Everyone is excited to be part of ON3.
“Watching the campus come back to life is especially gratifying for the former Hoffmann-La Roche folks — who all were involved in ramping down operations when the property went dark five years ago.”
ON3 is set to welcome the new Seton Hall-Hackensack Meridian School of Medicine later this year as one of its major tenants. As part of that process, Prism is converting two existing buildings at the site.
This summer, bio-fabrication firm Modern Meadow leased and moved into its 73,000-square-foot, state-of-the-art laboratory on the campus. Prism also touted plans for a pilot manufacturing plant, along with several other major tenants that have signed letters of intent for additional office and research and lab.