Vertice Pharma Signs 12,733-SF Lease at NJ Center of Excellence in Bridgewater, N.J.
Just one year after arriving at NJ’s premier life sciences R&D campus, pharmaceutical manufacturer and distributor expands by 8,200 SF
The partnership of Advance Realty and CrossHarbor Capital Partners, LLC today announced that Vertice Pharma, a pharmaceutical manufacturer and distributor, has signed a significant lease expansion at the New Jersey Center of Excellence (NJCOE) in Bridgewater, New Jersey.
Vertice, which manufactures, markets and distributes pharmaceutical products, will expand its original space by 8,200 feet, and will now occupy 12,733 square feet on the first floor of Building L at NJCOE. The organization has been a tenant since March 2017 and is one of a host of progressive life sciences companies that occupy the NJCOE – many of which have also expanded their initial footprints on the campus.
“Vertice Pharma’s expansion at the New Jersey Center of Excellence not only validates the growth and development of the company, but also speaks to the campus’ overall success as a venue where bio and pharma companies on the leading edge of the industry can thrive,” said Peter J. Cocoziello, Founder and CEO of Advance Realty. “As our vision for the Center of Excellence continues to take shape, we’re thrilled to see it establish itself as a primary destination for the people and companies that are central to life science innovation.”
Advance and CrossHarbor acquired the NJCOE in 2014, after Advance learned global pharmaceutical company Sanofi was relocating its research and development arm to the Boston area. Recognizing the opportunity to reinvigorate a state-of-the-art laboratory environment in the midst of an internationally recognized life sciences corridor, Advance initiated plans to turn NJCOE into a holistic mixed-use community. Since then, Advance and CrossHarbor have welcomed some of the world’s leading life sciences companies, including global nutrition therapy innovator Nestlé Health Science, which signed a lease for 180,000 square feet of research and development space.
Joining Nestlé on NJCOE’s prestigious roster of tenants is Avantor, which supplies ultra-high-purity performance materials and solutions; Matinas, a publicly traded company that develops anti-infectives to combat drug-resistant infections; Nevakar, a bio-pharma start up; and other leading life sciences companies, such as Ashland, Amneal Pharmaceuticals, Insmed Inc., 3D Biotek, Union MedTech, Clinical Genomics/Enterix, GSG Scientific and Solaris Pharma. JLL is serving as the exclusive leasing agent for NJCOE, which is now more than 85 percent leased and has just 126,000 square feet of state-of-the-art laboratory space remaining in its “JR-1’ building.
NJCOE offers a number of features designed to cater to life sciences companies’ specific needs, including power feeds from two substations, a cogeneration system in the central utility plant, generator back-up for the central plant and cooling towers and a building-level generator back-up. It also features amenities to appeal to employees, such as a full-service cafeteria, common board room and auditorium. Advance’s master plan for the campus also includes the incorporation of retail and residential components to create a dynamic “town center” environment.
In addition, the campus’ location in the middle of the Boston-to-Washington “wealth corridor” in Bridgewater Township boasts the highest concentration of life sciences companies in New Jersey. NJCOE is adjacent to Interstate 287, which connects New York City, Westchester County and Northern New Jersey, as well as State Routes 202/206, 22 and 28. Only three miles away is Interstate 78, which connects Pennsylvania’s Lehigh Valley and New York City.
For more information on NJCOE, visit www.njcoebridgewater.com.
About Advance Realty
Among real estate’s most reputable and successful companies, Advance Realty has established itself as one of the industry’s most innovative and forward-thinking firms. Since 1979, Advance has continuously evolved to meet changing market demands by leveraging the creativity and collective knowledge of its team of world-class professionals, while remaining true to its commitment to responsible development. Headquartered in Bridgewater, New Jersey, Advance employs a multifaceted strategy, actively pursuing real estate investments in commercial, residential, industrial, retail and mixed-use projects that present an opportunity to enhance value through development, repositioning and redevelopment. The company currently owns, manages or has invested in a diverse, 10-million-square-foot portfolio of properties across all asset classes throughout the Northeast Corridor. For more information, visit www.advancere.com.
About CrossHarbor Capital Partners LLC
CrossHarbor Capital Partners LLC is a Boston-based alternative investment management frm that invests in value-add and opportunistic commercial real estate transactions. The firm seeks short and medium duration debt and equity investments that offer a compelling case for generating high absolute returns. CrossHarbor was founded in 1993 and has invested in more than $13 billion of commercial real estate on behalf of a diversified and highly regarded group of endowments, foundations, public and corporate pension plans, family offices and sovereign entities.