Real estate firms tout former Bristol-Myers Squibb facility as an ‘innovation campus’

Lincoln Equities Group and H.I.G. Realty Partners announced today that they’ve acquired the 1.2 million-square-foot life sciences campus that Bristol-Myers Squibb owned outside Princeton, N.J.

Brokerage firm JLL is helping the real estate outfits market the 433-acre “Princeton West Innovation Campus”  in Hopewell, N.J., to life sciences companies as a secure, multipurpose research and development (R&D) and biologic/pharmaceutical manufacturing campus.

“Given the current public health crisis, we anticipate pharmaceutical and life sciences manufacturers to consider ‘reshoring’ and expanding operations in the U.S.,” Joel Bergstein, president of Lincoln Equities Group, said in a news release. “This spacious, modern BMS campus — located in the center of ‘Einstein’s Alley’ in Central New Jersey — is a prime location for continued innovation and expansion.”

Current tenants include PTC Therapeutics, which takes up over 200,000 square feet, including a biologics production facility and R&D buildings.

“We look forward to building around the strong in-place anchor tenancy of PTC and leveraging H.I.G.’s real estate expertise and bio-health experience to enhance the execution of the value-add business plan,” said Ira Weidhorn, co-head of H.I.G. Realty Partners.

The Princeton West Innovation Campus includes nine principal buildings with 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.