Lincoln Equities Group (LEG) has sold a 42-acre portion of its Princeton West Innovation Campus in Hopewell, NJ, to global biotech company BeiGene.
BeiGene, which develops and commercializes cancer medicines, has announced plans to transform the space into a new state-of-the-art manufacturing campus and clinical research and development center.
Subject to finalizing the development plans, BeiGene will locate in a state-of-the-art facility that is expected to include up to approximately 400,000 s/f of dedicated commercial-stage biologic pharmaceutical manufacturing, including up to 16,000 liters of biologics capacity, along with clinical R&D and office space.
“We are excited to welcome BeiGene as an anchor tenant within our new Princeton West Innovation Campus,” said LEG President Joel Bergstein. “Our 1.2 million-square-foot life sciences site, formerly owned by Bristol-Myers Squibb, is an ideal location for both manufacturing and R&D given its existing infrastructure and prime location along New Jersey’s life sciences corridor.”
Construction of the initial phase is expected to begin in 2022 and be completed in late-2023 or in 2024. In addition, the property has more than one million square feet of developable real estate for potential future expansion. BeiGene is investing in U.S. manufacturing to expand and diversify its global supply chain and build manufacturing capabilities for its pipeline of biologic and drug candidates.
“Post pandemic, life sciences companies are increasingly seeking locations near their customer base in the U.S., and we are thrilled that BeiGene has chosen our Princeton West Innovation Campus for its important work,” said Lance Bergstein, managing director, Lincoln Equities Group. “We’re proud to help attract global companies to New Jersey, especially when it results in new jobs and investment in the region.”
The 1.2 million-square-foot life sciences campus, formerly owned by pharmaceutical giant Bristol-Myers Squibb, was purchased by Lincoln Equities Group and H.I.G. Realty Partners in 2020. The Princeton West Innovation Campus features nine principal buildings consisting of state-of-the-art clinical manufacturing, plug-and-play biological laboratories and office space, plus freestanding R&D support space, storage facilities and a global data and command center.
It is supported by a central utility complex (CUC), which provides wastewater management, generator-backed electricity, chilled water and steam. Onsite amenities include a full-service cafeteria, an 8,000-square-foot fitness center and a freestanding, 28,000-square-foot child development center; plus, multiple conference areas including a 9,000-square-foot mansion, the campus’ original building. The site is just minutes from downtown Princeton, I-95, I-295 and Routes 1, 31, 206 and within 12 miles of three Amtrak train stations.
Lincoln Equities Group was represented by Daniel Loughlin of JLL and Robert Klausner of Fox Rothschild LLP.
https://rew-online.com/lincoln-equites-sells-slice-of-nj-science-campus-to-beigene/
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