Woodbridge, N.J.-based Onyx Equities, LLC (Onyx) recently announced plans for a new life sciences and biotechnology hub in the New Jersey market. The project, dubbed Northeast Science and Technology (NEST) Center, will be developed together with real estate investment platform Machine Investment Group, LLC (MIG).

Located in Kenilworth, N.J., the project site is the former global headquarters of healthcare company Merck Sharp & Dohme, LLC, a property that Onyx and MIG acquired earlier this year in what was estimated to be one of the largest office and life sciences deals in New Jersey history.

Boasting a highly convenient location just 14 miles outside of New York City, the NEST Center project seeks to allow companies to tap into the highly educated talent pool in New Jersey and the tri-state area, as well as serve as a state-of-the-art innovation hub for the industry, inspiring and attracting the next generation of life sciences and technology leaders to the Northeast.

NEST Center representatives look forward to unveiling detailed plans of the development at the BIO International Convention, which is set to take place June 5 through 8 at the Boston Convention & Exhibition Center in Boston. Highlights that have been announced so far include:

  • Utility infrastructure complete with a 25-megawatt co-generation power plant
  • 4 million square feet of laboratory buildings
  • 30 acres of redevelopment opportunities specifically zoned for research, laboratory, and manufacturing facilities
  • 500,000 square feet of Class A New Jersey office space
  • A turn-key vivarium
  • Best-in-class campus amenities, such as a heliport, fitness facilities, conference centers, and green space

“The biotechnology industry has a high demand for both turnkey and customizable solutions,” said NEST Center Co-Founder & Managing Partner, John Saraceno. “Prior to NEST, many health tech companies, especially those in research and development, were forced to wait years for adequate laboratory and workspace. NEST allows those on the cutting edge of medicine to focus on finding cures — rather than an office location.”

This project will further solidify Onyx Equities’ strong track record of real estate development in the Northeast. Since 2004, the company has completed acquisitions of more than $4 billion worth of key assets in New Jersey, New York, and Pennsylvania, and has invested more than $1 billion in capital improvement projects under its signature repositioning program. The program’s success includes a recent headquarters deal with Johnson & Johnson for its new consumer health company. Specifically, Kenvue, Inc., has reportedly signed a 15-year lease for nearly 300,000 square feet at Summit East, a former Celgene Corp. campus that Onyx acquired in 2021.

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