A joint venture has acquired the 1.2 million-square-foot Bristol-Myers Squibb campus in Hopewell, seeking to attract new tenants amid continued growth in the life sciences sector.
The nation’s life sciences sector continues to expand, boosted by technological advancements, growing employment and a strong economy. While Boston and San Francisco remain the country’s main life sciences hub, their tightening inventory and constrained labor force has driven momentum south to the Garden State.
A flurry of blockbuster leases propelled New Jersey’s office market in the third quarter, fueling positive momentum despite a handful of high-profile space dispositions.
New Jersey Future has announced the winners of its 2019 Smart Growth Awards, a group that includes adaptive reuse projects in four of the state’s major cities.
An investment manager has set out to reposition two buildings at the former Bristol-Myers Squibb headquarters campus in Plainsboro, while tapping Colliers International to market more than 400,000 square feet at the property.
For all the time we’ve spent highlighting New Jersey’s glut of sprawling, vacant corporate campuses, it’s easy to lose sight of just how many of them have been rescued in recent years by some of the state’s boldest and most inventive developers. Those success stories are worth telling, which is why we often do at Real Estate NJ. But there are underlying trends or nuances in some of those projects that don’t get as much attention on a day-to-day basis. Like how a crop of innovative, lesser-known biotech and pharmaceutical firms are backfilling space at the former research campuses of Sanofi and Hoffmann-LaRoche, helping to stabilize those sites as their new owners pursue larger redevelopment plans.