Life sciences companies remain a leading driver of commercial real estate in New Jersey, accounting for more than a third of all office leases during the first half of 2023 and fueling a pipeline of deals for lab and manufacturing space.
A specialty hockey retailer has opened its doors in Kenilworth after leasing more than 11,000 square feet on Route 22, in a newly announced deal by The Goldstein Group.
Middlesex and Union counties emerged as key focal points for commercial real estate investors in the first half of 2023, accounting for some $700 million in sales through midyear.
Onyx Equities has revealed new details of its plan for the 2 million-square-foot former Merck & Co. campus in Kenilworth, as it prepares a broad campaign to attract life sciences and biotechnology firms seeking both turnkey space and new ground-up facilities.
Turnkey, high-end life sciences space remains in high demand in New Jersey, creating an opportunity for owners of the state’s few remaining legacy pharmaceutical campuses or those that can find other ways to create new space without building speculatively.
Our April edition highlights the ongoing demand from established pharmaceutical firms, startups and a growing pool of international users for high-quality, turnkey laboratory and manufacturing space in New Jersey — and the opportunity for landlords that can provide it.
Merck & Co. has sold its 108-acre campus in Kenilworth to a joint venture of Onyx Equities and Machine Investment Group, with plans to lease back the nearly 2 million-square-foot complex while it relocates in phases over the next several years.
A year after announcing plans to vacate its Kenilworth headquarters, Merck & Co. has officially placed the nearly 2 million-square-foot office and research campus on the market for sale.
