{"id":1004458084,"date":"2020-06-23T05:02:01","date_gmt":"2020-06-23T13:02:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004458084"},"modified":"2020-06-23T05:35:18","modified_gmt":"2020-06-23T13:35:18","slug":"lincoln-equities-group-jv-buys-1-2-msf-life-sciences-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lincoln-equities-group-jv-buys-1-2-msf-life-sciences-campus\/","title":{"rendered":"Lincoln Equities Group JV Buys 1.2 MSF Life Sciences Campus"},"content":{"rendered":"
\"\"<\/a>

Princeton West Innovation Campus. Image courtesy of Lincoln Equities Group<\/em><\/p><\/div>\n

Lincoln Equities Group and H.I.G. Realty Partners have acquired a 433-acre, 1.2 million-square-foot life sciences campus<\/a> in Hopewell, N.J. The seller was global biopharma giant Bristol Myers Squibb, which had occupied the campus till about 2018.<\/p>\n

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READ ALSO<\/strong>: CRE\u2019s Cautious Road to Recovery<\/a><\/p>\n

\n

The Princeton West Innovation Campus, just 7 miles from Princeton, N.J., features nine principal buildings consisting of clinical manufacturing space, biological laboratories and office space, plus freestanding R&D support space, storage facilities and a data center. It\u2019s supported by a central utility complex that provides wastewater management, generator-backed electricity, chilled water and steam.<\/p>\n

Onsite amenities include a full-service cafeteria, an 8,000-square-foot fitness center and a 28,000-square-foot freestanding child development center, plus multiple conference areas, including a 9,000-square-foot mansion, the property\u2019s original building.<\/p>\n

In July, PTC Therapeutics Inc. will begin occupying more than 200,000 square feet at the campus, including a biologics production facility and R&D buildings. The site can be expanded to total about 2.8 million square feet by way of 35 acres of additional developable land. The location is accessible to I-95, I-295 and Routes 1, 31 and 206, and is within 12 miles of three Amtrak stations.<\/p>\n

The transaction\u2019s dollar value was not disclosed. JLL has been tasked with marketing the property, which will be managed by LEG\u2019s Life Sciences division.<\/p>\n

Mergers drive entrepreneurship<\/h2>\n

LEG noted that it anticipates an influx of biopharma manufacturing investment at this property and elsewhere in New Jersey, as pharmaceutical and life sciences companies consider \u201creshoring<\/em>\u201d or expanding operations in the U.S., partly because of the ongoing public health crisis and calls to produce more essential drugs domestically.<\/p>\n

The market for lab\/R&D space in New Jersey has been benefitting from mergers and consolidations among large pharma companies, because these tend to result in downsizing, generating the proliferation of smaller pharma and biotech concerns, according to a recent life sciences report from Cushman & Wakefield. Meanwhile, the state\u2019s universities and medical schools continue to graduate substantial numbers of life sciences professionals every year, currently more than 27,000.<\/p>\n

The R&D\/lab market is expected to tighten somewhat from its overall vacancy of 14.3 percent (on an inventory of about 17.7 million square feet), especially since there\u2019s a limited quantity of new space in the development pipeline, again according to Cushman & Wakefield.<\/p>\n

Last August, Thor Equities launched its life sciences platform with the $152 million acquisition<\/a> of a 42-acre, 784,000-square-foot campus in Bridgewater, N.J. The seller was Advance Realty.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Princeton West Innovation Campus in central New Jersey is largely vacant at this point, but the region\u2019s life sciences sector is active and strong. <\/p>\n","protected":false},"author":882,"featured_media":1004458102,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21754,1600,21742,10],"tags":[37332,32799,34559,32796,36634,32776],"class_list":["post-1004458084","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-medical-office","category-new-york","category-latest","category-northeast","tag-advance-realty","tag-cushman-wakefield","tag-h-i-g-realty-partners","tag-jll","tag-lincoln-equities-group","tag-thor-equities"],"acf":[],"yoast_head":"\nLincoln Equities Group JV Buys 1.2 MSF Life Sciences Campus - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/lincoln-equities-group-jv-buys-1-2-msf-life-sciences-campus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lincoln Equities Group JV Buys 1.2 MSF Life Sciences Campus\" \/>\n<meta property=\"og:description\" content=\"The Princeton West Innovation Campus in central New Jersey is largely vacant at this point, but the region\u2019s life sciences sector is active and strong.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/lincoln-equities-group-jv-buys-1-2-msf-life-sciences-campus\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-06-23T13:02:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-06-23T13:35:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/06\/Lincoln.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lincoln-equities-group-jv-buys-1-2-msf-life-sciences-campus\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/lincoln-equities-group-jv-buys-1-2-msf-life-sciences-campus\/\",\"name\":\"Lincoln Equities Group JV Buys 1.2 MSF Life Sciences Campus - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lincoln-equities-group-jv-buys-1-2-msf-life-sciences-campus\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lincoln-equities-group-jv-buys-1-2-msf-life-sciences-campus\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/06\/Lincoln.jpg\",\"datePublished\":\"2020-06-23T13:02:01+00:00\",\"dateModified\":\"2020-06-23T13:35:18+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lincoln-equities-group-jv-buys-1-2-msf-life-sciences-campus\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/lincoln-equities-group-jv-buys-1-2-msf-life-sciences-campus\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lincoln-equities-group-jv-buys-1-2-msf-life-sciences-campus\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/06\/Lincoln.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/06\/Lincoln.jpg\",\"width\":800,\"height\":620,\"caption\":\"Princeton West Innovation Campus. 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