New Jersey’s life sciences sector is poised for continued growth in 2024, following a year in which the industry was a key source of demand for commercial real estate owners.
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.
Johnson & Johnson’s highly anticipated consumer health spinoff is leasing 290,000 square feet of office and laboratory space in Summit, in a deal that will activate a campus recently acquired by Onyx Equities.
Onyx Equities and JLL have unveiled new plans and new possibilities for the sprawling former Celgene Corp. campus in Summit, where they’re now marketing two high-end office buildings and a redevelopment site at the heart of the nearly 640,000-square-foot property.
