Onyx Equities Announces New Jersey's Newest Life Sciences and Biotechnology Hub

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Northeast Science and Technology (NEST)

May 25, 2023, 11:08 ET

The Northeast Science and Technology (NEST) Center is a 100-acre site designed for the next generation of innovative health leaders

KENILWORTH, N.J., May 25, 2023 /PRNewswire/ -- The Northeast Science and Technology (NEST) Center is the latest venture backed by leading real estate investment and property services firm Onyx Equities and equity partner, Machine Investment Group. Formerly the global headquarters of Merck, Onyx purchased the state-of-the-art campus in February 2023 with an eye on the future of life sciences and biotechnology. Located just 14 miles outside of New York City, NEST will serve as a hub of industry innovation and attract the next generation of life sciences and technology leaders to the region.

NEST Center co-founder and managing partner, John Saraceno, will share plans for the 2 million + square foot purpose-built research and development campus while attending the BIO International Convention June 5-8 at the Boston Convention & Exhibition Center in Boston, Massachusetts. While conference attendees are welcome to stop by booth 651 to learn more about this hub of innovation, initial highlights include:

1.4 million square feet of laboratory buildings
30 acres of redevelopment opportunities specifically zoned for research, laboratories and manufacturing facilities
500,000 square feet of Class-A professional office space
A turn-key vivarium
Robust and redundant utility infrastructure, including a 25 MW Co-Generation Power Plant
State-of-the-art amenities to create a vibrant campus culture, including a heliport, fitness center, conference centers, and green space

Onyx Equities has a strong track record as a best-in-class owner and developer of real estate within the Northeast. NEST and other significant life science projects in New Jersey continue to help them emerge as one of the sector's new leaders. In fact, Kenvue, Johnson & Johnson's billion-dollar consumer spinoff, recently selected an Onyx property to house its new global headquarters.

"The biotechnology industry has a high demand for both turnkey and customizable solutions," noted Mr. Saraceno. "Prior to NEST, many health tech companies, especially those in research and development, were forced to wait years for adequate laboratory and work space. NEST allows those on the cutting edge of medicine to focus on finding cures — rather than an office location."

Mr. Saraceno went on to say that Onyx Equities chose to announce NEST at this year's BIO Convention in Boston because the event has a reputation for bringing together leaders, innovators, and investors in the life science, biotech, and medical device industries with the goal of commemorating the value that breakthrough biotech performs for society.

Why Northeast Science and Technology (NEST) Center?
The name of Onyx Equities' newest life science campus, the Northeast Science and Technology (NEST) Center, was selected to position the property as a hub of research and innovation in the Northeast region of the United States. Formerly the global headquarters of Merck, the campus empowers global organizations to tap into New Jersey's highly educated labor pool. Its convenient location in the tri-state area- less than 14 miles from New York City - also serves to attract the next generation of life science and biotechnology leaders to the region. For more information, visit www.NESTCenter.com.

About Onyx Equities, LLC
Headquartered in Woodbridge, New Jersey, Onyx Equities, LLC is a leading, full-service real estate firm specializing in investment, asset repositioning and ground-up development. Since its founding in 2004, Onyx has acquired more than $4 billion worth of diverse real estate assets throughout New Jersey, New York, and Pennsylvania, and has executed over $1 billion in capital improvement projects under its signature repositioning program. Driving Onyx's success is its deep understanding of the development process and core geographic markets, a seasoned team of expertise in all facets of real estate, and its adaptability to market conditions and the experience gained from managing over 65 MSF since inception. Throughout its esteemed portfolio of properties, Onyx takes aim at increasing operational efficiency, tenant satisfaction and long-term value to create dynamic commercial, residential and mixed-use environments of the highest quality. For more information about Onyx Equities, visit www.OnyxEquities.com.

About Machine Investment Group
Machine Investment Group is a real estate investment firm focused on opportunistic, distressed, and special situations across the United States. Founded in 2020 by Eric Rosenthal and Andy Kwon, Machine invests primarily in the middle market, where its reputation as a reliable counterparty, its solutions-oriented approach and extensive lender relationships support proprietary deal flow. Machine's strict risk discipline, institutional operating processes and well-developed sourcing network has been cycle-tested and is designed to deliver consistent, opportunistic returns while minimizing losses.

Contact: Corrie A. Fisher, media relations
Email: [email protected]

SOURCE Northeast Science and Technology (NEST)