From leasing to new construction, pharmaceutical and life sciences firms remained a leading force in New Jersey’s commercial real estate market through the first three quarters of 2022.
Market experts say large, high-profile office deals are likely still to come in New Jersey, despite the push for hybrid schedules and lingering questions about the return to work.
PTC Therapeutics has leased 360,000 square feet for a new corporate headquarters in Warren, in a deal that marks one of New Jersey’s largest office leases of the past decade.
An acclaimed life sciences campus in Bridgewater with some 800,000 square feet of research, manufacturing and office space is on the market — with the potential to sell for $500 million.
After decades of consolidation by Big Pharma, demand for modern lab and diagnostic space in New Jersey is on the rise, fueling rent growth and pushing some developers to consider new laboratory projects.
Thor Equities Group has landed a major tenant at its newly acquired life sciences campus in Bridgewater, inking a 101,500-square-foot lease with a biopharmaceutical company.
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.