Prism Capital Partners announced it is planning new developments at ON3, a 116-acre campus spanning the cities of Clifton and Nutley Township. The planned construction projects will add approximately 400,000 square feet of laboratory facilities.
Prism also stated it is finalizing plans to build a four-story, 150,000-square-foot speculative laboratory building at ON3.
Additionally, Quest Diagnostics, leading provider of diagnostic information services, will break ground imminently for a flagship laboratory on a 12-acre parcel. The 250,000-square-foot, owner-occupied lab will become the largest in Quest’s network of 20-plus major laboratory facilities across the country, and will employ more than 1,100 people.
Both the Quest facility and spec lab will benefit from ON3’s existing infrastructure, including its central utility plant with a 10-megawatt cogeneration facility. “The in-place multi-redundant heating, cooling and electricity enables the design of buildings with superior efficiency at a lower cost,” noted Prism’s Principal Partner Edwin Cohen. “In turn, this creates a better value proposition for lab users, which elevates ON3’s competitive positioning.”
Quest Diagnostics and future tenants of the spec lab building will join the growing hub of industry leaders in life sciences and biotech at ON3.
In mid-2018, the new Hackensack-Meridian School of Medicine at Seton Hall University opened its doors at 123 Metro Blvd. Seton Hall University’s Graduate College of Nursing and School of Health and Medical Sciences are located at 123 Metro Blvd. as well, and Hackensack Meridian is creating a National Institutes of Health-designated Clinical Research Center at the property. ON3 also serves as home to biofabrication company Modern Meadow, which moved into its laboratory at 111 Ideation Way in 2017.
ON3 is located nine miles from Manhattan on Route 3. The mixed-use complex will integrate office and R&D facilities, recreational, hospitality and wellness options, among others.
In addition to the brain trust of organizations in life sciences and biotech, ON3 is attracting high-profile companies from a range of sectors. Most recently, the Ralph Lauren Corp. signed a full-building lease. The iconic American lifestyle brand will move its New Jersey hub to 100 Metro Blvd., supported by a $33 million Grow NJ grant.
Prism’s campus infrastructure development continues to progress at ON3. Slated for completion next spring, Phase 2 of the infrastructure project is creating a robust roadway network that both allocates and integrates spaces on ON3’s west side, and enables the campus to be easily – and fully – traversed.
Phase 1 of the infrastructure improvements focused on the addition and rebranding of streets on the east portion of the campus, the installation of new sewer and storm water systems, and electrical grid enhancements.