PTC Therapeutics signs 360K-square-foot lease to move HQ to Warren

Biopharmaceutical company PTC Therapeutics will move its global headquarters from South Plainfield to Warren.

Joint venture partners Rubenstein Partners LP and Vision Real Estate Partners announced a long-term, 360,000-square-foot lease with the company for the Warren Corporate Center June 9.

PTC will occupy a new facility at the park. The agreement spans two full buildings, 400 and 500 Warren Corporate Center Drive, and will include offices, collaboration and conference spaces and research laboratories upon completion.

“Our new headquarters allows us to have a Class A facility for our growing team, while keeping the new flexible work paradigm in mind,” said PTC Vice President of Global Facilities Doug McLeester. “As PTC grows into one of the world’s leading rare disease companies, our in-house capabilities must similarly grow and adapt.

“The new facility at Warren Corporate Center, which complements our existing operations at the PTC’s Gene Therapy Center of Excellence in Hopewell, is the ideal space for our expected future expansion in New Jersey, a foundational and growing market for biotech in the U.S.,” he added.

PTC opened the Hopewell manufacturing facility in October 2021. At the time, the company said it’s number of New Jersey-based employees was 625.

Work on the new headquarters is set to begin in Warren this month.

“Since acquiring and repositioning Warren Corporate Center, our goal has been to create the kind of fully-amenitized and differentiated office product high-end companies in the region are seeking,” said Rubenstein Principal Stephen Card in a statement. “PTC Therapeutics is a true global leader and innovator in the biopharmaceutical sector and adding an organization of their magnitude to the roster of tenants at the Warren campus validates the strategic investments we’ve made at the site.”

The 176-acre Warren Corporate Center was originally built as a headquarters for Lucent Technologies. Its five buildings collectively offer more than 820,000 square feet and are situated among walking trails and a landscaped pond. The campus also features four covered parking structures.

Partners Rubenstein and Vision acquired the complex in 2016. Their repositioning of the property included the development of a 20,000-square-foot lifestyle center, Warren Hill, with amenities including an outdoor amphitheater, indoor and outdoor patio dining, multi-function conference areas, a full service café and coffee bar, a fitness center with locker rooms, and a full-size basketball court, in addition to an outdoor roof deck.

“Warren Corporate Center is a suburban office site designed for the modern employee,” said Sam Morreale, founder and managing partner of Vision Real Estate Partners. “The institutional-quality property is a rare blend of full-service amenities, outdoor spaces and experiential features, such as our unique lifestyle center, that separate the property from others in the region. Warren Corporate Center is a singular offering in the highly competitive New Jersey office market, and we are pleased to welcome PTC as the long-term addition to the campus.”

Jeff Zell and Louis Kluger of JM Zell Partners represented PTC Therapeutics in the lease transaction, while Robert Donnelly Sr., Robert Donnelly Jr., Paul Giannone, Todd Elfand and Kevin Carton of Cushman and Wakefield represented building ownership.

Last year, the joint venture offloaded two of Warren Corporate Center’s buildings for $150.25 million.