Lincoln Equities Group (LEG) and H.I.G. Realty have announced plans for three new planned specialty manufacturing buildings at the Princeton West Innovation Campus @ Hopewell totaling 380,000 square feet to accommodate advanced manufacturing uses, including biotech, pharmaceutical, nutritional and medical device, and other high-tech needs.
“New Jersey remains one of the nation’s leading centers of life science innovation and the Princeton West Innovation Campus sits at its heart,” said Joel Bergstein, President of LEG, one of the Northeast’s leading full-service real estate companies. “We are excited to move forward with our plans to further enhance the property with the type of advanced R&D and manufacturing space the industry demands.”
The announcement comes following the lease of 56,000 square feet of space at the property to Enzene Biosciences, a global biotech company based in Pune, India. Enzene Biosciences leased the entire West wing of Building 21 at the multi-purpose R&D campus to create a state-of-the-art biopharmaceutical manufacturing plant that will facilitate an expansion of its manufacturing capabilities to serve North American clients.
A JLL team led by vice chairman Dan Loughlin, managing director Bob Ryan, senior managing director John Buckley and executive managing director Jim Medenbach, serves as exclusive marketing agent for the property and represented ownership, along with LEG’s Sr. Director of Leasing, Ken Flynn, in the lease with Enzene Biosciences. The tenant was represented by JLL managing director Jason Benson and senior managing director Dan Spero.
“We are thrilled to welcome Enzene Biosciences to the Princeton West Innovation Campus at a time of heightened demand for specialized life science facilities in the region,” said Loughlin, who noted that the ownership group also has the ability to upgrade two existing buildings for an additional 106,000 square feet for modern R&D lab and manufacturing uses. “The property offers life science companies robust existing utility infrastructure, development entitlements in place, a secure state-of-the-art location ideal for continued innovation and speed to market opportunities.”
A former Bristol-Meyers Squibb (BMS) facility, Princeton West is a multi-purpose R&D campus of 33 buildings situated on 433-acres centrally located between New York City and Philadelphia, along the Boston to Washington D.C. Northeast Corridor of AMTRAK rail and less than five miles from the East Coast’s main Interstate Highway, Interstate 95. The property is already home to several leading global companies, including PTC Therapeutics, BeiGene, Princeton University, Passage Bio and Gennao Bio who benefit from the campus’ robust utility infrastructure, including an on-site substation with dual 69kv electric feeds, 18 inch main water line and an on-site N-4 Industrial Waste Water Treatment Plant.
In addition to the specialty manufacturing and R&D offerings, the campus has over 250,000 square feet of available office space, and an amenity package that includes a full-service café, large fitness center, common conference space and walking trails. Some 200 acres of the site are dedicated to preserved farmland and open space on Pennington-Rocky Hill Road in Hopewell Township.
According to JLL’s Q1 2023 New Jersey Life Sciences Insight, flight-to-quality has been a recurring theme of the industry, as established companies including AbbVie, Bristol Myers Squibb and Sanofi have relocated within the state into high-end spaces to accommodate new workplace strategies.
Said Ryan, “New Jersey has one of the most highly educated, highly skilled workforces in the U.S. including the highest concentration of scientists and engineers in the world. Its established life sciences ecosystem presents invaluable opportunities for collaboration and the state’s business-friendly environment supports growth in the sector.”
Lance Bergstein, Managing Director of LEG, added “The collective team thanks ChooseNJ, BioNJ and the NJEDA for their support and guidance in attracting Enzene Biosciences to New Jersey. We anticipate continued demand from companies who can utilize the property’s existing infrastructure and embrace its prime location along New Jersey’s life sciences corridor.”
