JLL Thor Equities Group on Oct. 14 announced a new lease at 95 Greene, as it completes its dramatic repositioning project to create the first lab-ready life sciences property in Jersey City.
RWJ Barnabas Health/Jersey City Medical Center completed a long-term lease for 11,235 square feet of ground-floor retail space with a separate dedicated entrance.
Thor Sciences worked with SGA Architects to complete a comprehensive adaptive reuse project for 95 Greene St., which it purchased in March 2020. Base building work included extensive upgrades to mechanicals, HVAC, vertical conduits and a new rooftop generator.
Located at the intersection of Greene and York Streets in Jersey City’s Paulus Hook neighborhood, the 350,000-square-foot, eight-story property served as a toothpaste manufacturing facility for Colgate Palmolive until 1987 and was later converted into a Class-A office building occupied by Merrill Lynch. 95 Greene offers robust utilities infrastructure and abundant power resources served by multiple utility grids. The property offers 13- to 15-foot ceiling heights, secured interior loading docks, on site life-safety generator and flexible floor plates. Onsite underground parking is available for 125 vehicles.
“We are very pleased to welcome RWJ Barnabas/JCMC to their new home at 95 Greene St.. We are proud of our work at this development and are committed to providing organizations with state-of-the-art spaces to practice medicine and advance life sciences. 95 Greene benefits from powerful building infrastructure and we look forward to welcoming additional tenants to this trophy asset,” said Executive Vice President Jack Sitt.
“95 Greene’s location at the nexus of the New York City and suburban New Jersey life sciences markets positions the property to support the highly specific needs of R&D tenants,” said Cahill.
Thor’s life science portfolio includes two additional life science facilities in New Jersey: 7 Powder Horn Drive in Warren, which is occupied by Celgene BMS, and The New Jersey Center of Excellence in Bridgewater, a 784,000-square-foot secure campus leased to life science companies including anchor tenants Nestlé Health Science, Ashland, Amneal Pharmaceuticals and PTC Therapeutics.
Thor also recently acquired an R&D asset leased to semiconductor developer NXP Semiconductors in San Jose, as well as a life science campus in the Research Triangle space of North Carolina within the last year.
95 Greene is a short walk from the Exchange Place PATH Station, NY Waterway Ferry, New Jersey Transit and the new Hudson-Bergen Light Rail system. It is minutes from Interstae 95, the New Jersey Turnpike, Routes 22 and 78, and Newark Liberty International Airport.
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