200 Metro Blvd. in Nutley — Courtesy: Prism Capital Partners
By Joshua Burd
Prism Capital Partners has relocated its headquarters to ON3, the mixed-use campus that it’s developing at the sprawling former Hoffmann-LaRoche campus in Nutley and Clifton.
The developer, which was previously based in Bloomfield, said it has moved into the building known as 200 Metro Blvd., the distinctive glass and marble office tower that is visible from Route 3 and the surrounding area. The move puts Prism in the center of its sweeping redevelopment project, one of the largest in the state, and responds to what it says is a significant period of growth.
“We are excited to officially call ON3 our home and become an even more active member of the vibrant, growing community here at ON3,” said Edwin Cohen, a principal partner with Prism. “The synergy of having all of our team members under one roof is a real plus as ON3 and Prism’s other regional projects move forward.”
Prism acquired the former Roche site in fall 2016, some three years after the Swiss pharmaceutical giant announced it was closing its complex of more than 80 years. The transaction gave way to a flurry of activity aimed at repopulating the campus, including the opening of the new Hackensack Meridian School of Medicine at Seton Hall University.
ON3 has also attracted the likes of Ralph Lauren Corp. and Modern Meadow, a biotech firm, along with a new 250,000-square-foot laboratory building that Quest Diagnostics is building. Prism, which is also planning new office space, a hotel and a mixed-use component, ultimately expects to design and develop its own new headquarters building on the campus.
All told, the developer expects that more than 5,500 people will be employed at ON3 by 2021. They will help populate what Prism envisions as a walkable, downtown-style environment some 10 miles from New York City.
At 200 Metro Blvd., Prism has removed the original east-facing marble façade and is replacing it with a new curtain-wall glass exterior. The design will match the northern and southern facades, creating enhanced views of the Manhattan skyline.
Other renovation work is underway, readying the building for additional future tenants, the firm said in a news release. Outside, Prism is creating a courtyard with communal areas for social and business gatherings, while it has recently delivered a 2,500-space parking garage serving both 100 and 200 Metro Blvd.
Prism eyes new 400,000 sq. ft. complex as ON3’s first ground-up office project
