Brokers with HFF have secured $10.2 million in financing for a developer to build a 925-unit self-storage facility on the border of Nutley and Clifton.
I am convinced more than ever that forward-thinking New Jersey suburbs are poised for a comeback. Many city residents, especially those in their 20s and 60s will seek alternate residences. Towns that have invested in their infrastructure and assets for the long term and are ready to accommodate this exodus of consumers and their preferences will be able to compete for this wealth of talent and the resources they bring to the community.
A team of Monmouth University students earned top honors recently at NAIOP New Jersey’s annual Intercollegiate Case Study Competition, offering a vision for redeveloping the former Hoffmann-LaRoche campus in Nutley and Clifton.
Less than a month after hosting a forum for local residents and other stakeholders, the former Hoffmann-LaRoche campus will welcome aspiring commercial real estate professionals.
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.
Prism Capital Partners has assembled a team to oversee its new ON3 campus in Nutley and Clifton, including three former Hoffmann-La Roche employees who worked at the site for a combined 90 years.
Quest Diagnostics and Ralph Lauren could be among the newest tenants at the former Hoffmann-LaRoche campus in Clifton and Nutley, now known as ON3, following the approval of $88 million in tax credits to support more than 500,000 square feet of activity at the site.
Global architecture firm Gensler has added to its Morristown office with the hiring of a new design director.