JLL has completed a new lease for Bristol-Myers Squibb at its Princeton West R&D Campus in Hopewell with PTC Therapeutics Inc.
JLL said Tuesday the global biopharmaceutical company had signed a 185,000-square-foot lease — which includes an existing biologic production facility and supporting research and operations buildings — at the 433-acre campus at 311 Pennington-Rocky Hill Road. The campus has a total of 33 buildings and corporate offices.
Daniel Loughlin, vice chairman and head of office brokerage in New Jersey at JLL; Joseph Garibaldi and James Medenbach, managing directors; and John Buckley and Robert Ryan, senior vice presidents; represented Bristol-Myers in the deal. Charles Parmelli, director at Cushman & Wakefield; and Robert Klausner and Mat Carlson, partners at law firm Fox Rothschild LLP, represented PTC Therapeutics. Christopher Costa, shareholder; and Christopher Tarr, partner at law firm Stevens & Lee, represented BMS.
“JLL New Jersey has extensive experience in marketing high-value life science sites,” Loughlin said. “Bristol-Myers Squibb’s Hopewell campus is a state-of-the-art, move-in ready research, innovation and manufacturing space that is located in a region with a highly skilled workforce. Repositioning a corporate campus to accommodate multiple useres is challenging and complex. JLL appreciates the vision and efforts of all the other project stakeholders that enabled this unique property to facilitate PTC Therapeutics’ exciting growth and future in New Jersey.”
PTC will occupy Buildings 9, 10, 12, 13 and a portion of Building 18 at the campus. It is also planning to further develop the biologics facility to support gene therapy production. In addition, the firm is planning to move its research operations to a newly-renovated building on the same campus.
Financial terms were not disclosed.
