Commercial real estate services firm Colliers has announced that it has successfully negotiated a 12-year lease to expand Genmab by 135,000 square feet at the Princeton Forrestal Innovation Park in Plainsboro.
Genmab, an international biotechnology company focused on antibody therapeutics for treating cancer, will now occupy a total of 270,000 square feet. A Colliers team led by Charlie Hatfield, Sara Donovan, and Brett Incollingo represented ownership, ThirdPoint Real Estate, in the deal along with Tom Romano and TJ Romano of JLL.
Located at 777 Scudders Mill Road, the property sits in the epicenter of technology and education as New Jersey’s life sciences market has seen rapid growth from emerging pharmaceutical and biotechnology companies, according to a Colliers report. As the leading tenant in the space, Genmab will be expanding to add 135,000 square feet of office space at one of the property’s Class A buildings.
Each floor of the five-story building has approximately 45,000 square feet of efficient and collaborative office space, and 9’ ceilings with open floor concepts. Designed by The Hiller Group, the building adheres to a quality standard that is far superior to other office buildings in the Central and Northern New Jersey office market.
“As the leading tenant on the property, Genmab’s expansion is a testament to the top-quality product ThirdPoint Real Estate continues to deliver,” said Hatfield. “The campus is the U.S. headquarters for several international firms who decided that the quality of amenities and general office environment far exceeds what the competition can offer.”
The world-class Princeton Forrestal Innovation Park is part of a 2,200 acre mixed-use community of office, research, retail, hotel, residential and open space, conveniently located minutes from a range of transit options. On-site amenities include electric car chargers, all new conference and meeting facilities, private and reservable wellness rooms, and sits adjacent to a number of restaurants, fitness centers, and conference centers.
More on Genmab: www.genmab.com.
