Business & Finance

Prism Capital Partners Names Cushman & Wakefield Office Agent for ON3, former Roche campus (Part III)

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NUTLEY, NJ -  Prism Capital Partners has named Cushman & Wakefield as the exclusive office leasing agent for its historic redevelopment of the site of the former Roche North American Headquarters. The 116 acre site is the largest redevelopment project in New Jersey.

The project, as TAPinto Nutley first reported in March, is called 'ON3', a reference to the New Jersey state highway that runs along the property. 

Hackensack Meridian Health and Seton Hall University committed to leasing two of the more significant buildings on the property. Those building are currently undergoing renovations to meet the needs of school. When completed, that portion of the former Hoffman La Roche campus will be home to the College of Nursing and School of Health and Medical Sciences. The plan is to also create a National Health Institute-designated Clinical Research Center. 

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The crown jewel of the property is the iconic International Style, 15-story, 300,000-square-foot LEED Gold-certified headquarters tower. Nutley Mayor Joseph Scarpelli told TAPinto Nutley that from the top floor, there are perfect views of New York from the Verazano Bridge, all of Manhattan, and north to the mountains. Looking west there are perfect views of the mountains of New Jersey. A  seven-story, 255,000 square-foot, Class A facility is also available. Given the size of the campus, there will be build-to-suit opportunities. 

The 15 story and seven story buildings are currently being marketed by a Cushman & Wakefield team headed by Robert Rudin, Bill Brown  and Josh Cohen. 

“We already have an outstanding, long-term anchor in place and mounting interest for opportunities at ON3,” said Prism’s Edwin Cohen, principal partner. “At the same time, we are working closely with the Township of Nutley, City of Clifton and a team of consultants to develop a vibrant mixed-use, multi-user plan.”

 “Prism’s unwavering focus on the longevity of the site – which hinges on assembling an appropriate mix of uses, such as the addition of supporting retail and residential – promises to attract best-in-class corporate users" said Rudin.

Situated nine miles from the Lincoln Tunnel, the redevelopment project will be easily accessible from most of the region. New Jersey's namesake Parkway is nearby, as are Interstate 80 and the New Jersey Turnpike.  

“We are incredibly excited to be involved in ON3, which is arguably the most robust project in our region’s development pipeline,” Rudin said.

 “Prism’s unwavering focus on the longevity of the site, which hinges on assembling an appropriate mix of uses, such as the addition of supporting retail and residential, promises to attract best-in-class corporate users" said Rudin. ON3 provides Prism with an opportunity create a showplace for the “new urbanist” philosophy that is driving New Jersey’s suburban municipalities to redesign their downtown districts and commercial corridors.

“Growing demand for 24/7 convenience living is resulting in better-balanced business centers that provide a blend of housing options and appealing amenities,” said the firm’s Eugene Diaz, principal partner. “We are committed to producing an attractive and profitable campus – one sensitive to potential concerns about traffic and quality of life for the larger community.”

Situated nine miles from the Lincoln Tunnel, the redevelopment project will be easily accessible from most of the region. New Jersey's namesake Parkway is nearby, as are Interstate 80 and the New Jersey Turnpike. “We are incredibly excited to be involved in ON3, which is arguably the most robust project in our region’s development pipeline,” Rudin said.

The public will soon be able to learn more about the project when the ON3 website is launched. The site will provide detailed plans, timelines and other efforts to engage members of the communit. Work is currently underway on the website.

TAPinto will continue its coverage of ON3, the former Hoffman-La Roche site. To follow developments to date, read:

Prism names former Hoffman-La Roche Nutley / Clifton campus “On 3”

Nutley Leaders and others on 'the Hoffman La Roche Redevelopment" On 3 (Part II)

It's Official: Development on Roche Property Called 'On 3'

Dean of New Seton Hall - Hackensack Medical School Meets with Nutley Commissioners

 

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