An investment firm has expanded its New Jersey life sciences portfolio with the acquisition of a research facility in Somerset County, in a transaction arranged by Newmark Knight Frank.
A public- and private-sector alliance raised $6.5 million to renovate and modernize the Summit Community Center, which opened in 1954. Investors Bank, with the Investors Foundation, energized the fundraising and became the founding sponsor by providing a $250,000 grant.
Several of New Jersey’s largest, most prominent life sciences complexes are now on the path toward redevelopment, with new anchor tenants in place or new owners that can reclaim the value of what was left behind.
In the most high-profile cases, a team at JLL has been right in the thick of it.