The New Jersey Center of Excellence in Bridgewater — Courtesy: Thor Equities Group
By Joshua Burd
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 developer on Tuesday announced the commitment by PTC Therapeutics, which will become the newest tenant at the sprawling New Jersey Center of Excellence on Route 202/206. With the lease, PTC has planted a flag amid nearly 800,000 square feet of laboratory, research and development and office space over 48 acres.
“Thor Sciences has experienced unprecedented growth in the past few months and we are incredibly proud of our expanding platform,” said Joe Sitt, chairman of New York-based Thor Equities. “We support PTC Therapeutics’ mission and are committed to helping them, as well as the other tenants at the Center of Excellence, to attract talent and build their team by offering first rate research and development space.”
Located just east of Interstate 287, the site is part of a former Sanofi U.S. research campus that was acquired in 2014 by Advance Realty Investors and CrossHarbor Capital Partners. The joint venture set out to reposition the complex as a mixed-use, multitenant campus before selling nearly half of the property to Thor Equities late last summer.
PTC is the first high-profile tenant to commit since Thor’s $152 million acquisition, which came as part of the developer’s newly launched life sciences investment platform. Focused on the discovery and development of new medicines to treat rare disorders, PTC has signed a long-term lease to occupy three floors at the Center of Excellence.
“We are pleased to welcome PTC Therapeutics to the Center of Excellence and are thrilled with the amount of interest this trophy asset has attracted thus far,” said Melissa Gliatta, Thor Equities’ chief operating officer. “We believe they have selected the best location to execute their vision and are confident the innovative company will bring more vitality to the elite life sciences campus.”