Vacancy in the northern New Jersey office market grew for four straight quarters in 2020, even as a handful of industries showed the ability to withstand the effects of pandemic.
Another life sciences company is coming to the 1.14 million-square-foot former Bristol-Myers Squibb campus in Hopewell, where it plans to lease 62,000 square feet of laboratory space.
Bristol-Myers Squibb has signed a nearly 120,000-square-foot lease at a Princeton-area office building, under a newly announced transaction by JLL.
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.