Prism Capital Partners’ new office at 310 Kingsland St. in Nutley — Courtesy: Prism
By Joshua Burd
Prism Capital Partners has moved its headquarters within its flagship ON3 campus, making way for the global pharmaceutical firm that will occupy the site’s distinctive 15-story office tower.
The developer on Wednesday announced the opening of its new space at 310 Kingsland St. in Nutley, less than a third of a mile from its previous home at 200 Metro Blvd., allowing it remain on site as it builds out the 116-acre campus. In its place will be Eisai Inc., which will occupy some 300,000 square feet under a full-building lease signed last year.
Prism had operated from 200 Metro Blvd. since 2019.
“Our move reflects Prism’s flexibility and our support of the progress and growth of ON3,” said Edwin Cohen, a principal partner with the firm. “We are committed to keeping our unified operations here and remaining part of everyday life within this vibrant, evolving community.”
Prism’s new home at 310 Kingland St. is a former conference center building used by Hoffmann-LaRoche, the longtime owner and occupier of the campus before it sold the property in 2016. Cohen said the company’s in-house construction team built out the space, noting that its long-term plan is to design and develop a standalone Prism headquarters building at ON3.
Eisai’s commitment at 200 Metro Blvd. marked New Jersey’s largest office lease of 2020 and came in the midst of the pandemic. The Japanese pharmaceutical maker will move its U.S. headquarters to ON3 from Woodcliff Lake, with plans to transfer up to 1,200 corporate staff and research and development personnel by late this year.
With the deal, Prism reached 100 percent occupancy at ON3’s 1.45 million square feet of existing office and life sciences space, marking a milestone in its effort to reposition the property. Eisai will join other users that have repopulated the campus over the past four years, including the Hackensack Meridian Health Center for Discovery and Innovation, the Hackensack-Meridian School of Medicine at Seton Hall University and Seton Hall’s Graduate College of Nursing and School of Health and Medical Sciences, along with Modern Meadow and Ralph Lauren Corp.
The site will also be home to a newly built, 250,000-square-foot laboratory facility for Quest Diagnostics. Prism, which is completing a $35 million infrastructure upgrade at ON3, ultimately aims to build a walkable, downtown-style environment that also includes retail, multifamily and hospitality components, along with additional office and health care users.