NUTLEY, NJ — Prism Capital Partners and its ON3 development were honored this spring by the Urban Land Institute, Northern New Jersey chapter during the organization’s annual Excellence Awards Gala. ON3 earned top prize in the suburban redevelopment category.
ON3, the redevelopment of the 116-acre former Hoffmann–La Roche campus spanning Clifton and Nutley, recently celebrated its latest milestone when pharmaceutical giant Eisai Inc. took occupancy of the LEED Gold 200 Metro Boulevard tower. The move brought ON3’s 1.45 million square feet of office and R&D/lab product to 100-percent occupancy and marked the completion of the project’s first phase.
Since Prism’s fall 2016 acquisition of the site, sustained activity has rebuilt the campus’ tenant population, attracting high-profile companies across a range of sectors. This includes a mix of pharmaceutical — Eisai Inc.; research and development — Hackensack Meridian Health Center for Discovery and Innovation; medical education — Hackensack Meridian School of Medicine, and Seton Hall University’s Graduate College of Nursing and School of Health and Medical Sciences; diagnostics — Quest Diagnostics; biotechnology — Modern Meadow; biopharma — Y-Mabs Therapeutics; and corporate — Ralph Lauren Corp.
“Today, this group of diverse businesses and institutions employs more than 5,500 people at ON3,” Prism principal partner Eugene Diaz said. “We are incredibly proud to have brought life back to this important site with an award-winning redevelopment. The ULI-NNJ honor is an outstanding testament to the quality and impact of our project — and we were thrilled to accept it on behalf of the property, our team, the blue-chip occupants who call ON3 home and the municipalities who work alongside us to create an enduring legacy of success.”