PTC Therapeutics signed a new 360,000-square-foot, long-term lease at Warren Corporate Center, relocating its corporate headquarters from South Plainfield to a new facility within the five-building campus at Warren Corporate Center, according to a Thursday announcement from joint venture partners Rubenstein Partners and Vision Real Estate Partners.
PTC’s lease spans two full buildings located at 400 and 500 Warren Corporate Center Drive and, following construction, will include offices, collaboration and conferencing spaces, and research laboratories. The facility will provide flexible and innovative workspaces with the capacity needed to support PTC’s long-term growth of its expanding pipeline of products.
Construction activities on the new facility at Warren Corporate Center is expected to begin this month.
Doug McLeester, vice president of global facilities at PTC Therapeutics, said the new facility at Warren Corporate Center complements its existing operations at the PTC’s Gene Therapy Center of Excellence in Hopewell, and is the ideal space for its expected future expansion in the state.
“Our new headquarters allows us to have a Class A facility for our growing team, while keeping the new flexible work paradigm in mind,” McLeester stated.
Originally built as a headquarters for Lucent Technologies, Warren Corporate Center comprises more than 820,000 square feet of office space across five buildings surrounded by walking trails, a richly landscaped pond and four covered parking structures.
Since acquiring the 176-acre campus in 2016, Vision and Rubenstein have set out to reposition Warren Corporate Center as a unique opportunity in the market, with headquarters-quality space that integrates attractive amenities and communal areas within a central location to optimize employee well-being and productivity.
As part of the repositioning, ownership also developed Warren Hill, a 20,000-square-foot lifestyle center located at the center of the campus, featuring numerous amenities, including an outdoor amphitheater; indoor and outdoor patio dining; multifunction conference areas; a full-service cafe with coffee bar; a state-of-the-art fitness center with locker rooms; and full-size indoor basketball court. The amenities hub also provides an easily accessible outdoor roof deck for employees to meet and collaborate.
“Since acquiring and repositioning Warren Corporate Center, our goal has been to create the kind of fully-amenitized and differentiated office product high-end companies in the region are seeking,” Stephen Card, principal at Rubenstein, said. “PTC Therapeutics is a true global leader and innovator in the biopharmaceutical sector, and adding an organization of their magnitude to the roster of tenants at the Warren campus validates the strategic investments we’ve made at the site.”
“Warren Corporate Center is a suburban office site designed for the modern employee,” Sam Morreale, founding and managing partner of Vision Real Estate Partners, added. “The institutional-quality property is a rare blend of full-service amenities, outdoor spaces and experiential features, such as our unique lifestyle center, that separate the property from others in the region. Warren Corporate Center is a singular offering in the highly competitive New Jersey office market, and we are pleased to welcome PTC as a long-term addition to the campus.”
Jeff Zell and Louis Kluger of JM Zell Partners represented PTC Therapeutics and Robert Donnelly Sr., Robert Donnelly Jr., Paul Giannone, Todd Elfand and Kevin Carton of Cushman & Wakefield represented building ownership in the lease transaction.
