The ownership team of the Northeast Science and Technology (NEST) Center research and development campus recently announced that global beauty company Revlon has chosen to relocate its New Jersey-based research and development laboratory to NEST’s state-of-the-art facilities in Kenilworth, N.J.
Revlon’s decision to join NEST was reportedly driven by the cutting-edge infrastructure and strategic location of the campus. With this move, Revlon seeks to make the most of the benefits of its new location to accelerate innovation and develop groundbreaking products. The company will be consolidating its research, pilot manufacturing, and office functions into a 62,000-square-foot space within the 15 NEST building. Encompassing a total of roughly 1.2 million square feet, 15 NEST previously served as Merck’s global research headquarters. Revlon is the first tenant to sign up for space in this building since the former occupant vacated the space.
“Revlon selected NEST for its existing lab infrastructure, which will help us further amplify our innovation capabilities and provide a state-of-the-art setting to meet our specific R&D needs,” said Lise Jorgensen, Revlon chief scientific officer. “This substantial investment in our R&D capabilities marks a critical and exciting step in Revlon’s future and reinforces our commitment to develop the most advanced consumer-inspired products for our brands around the world.”
The ownership group of Onyx Equities, Machine Investment Group, and Pivot Real Estate Partners were represented by JLL in the lease negotiations, while Newmark worked on behalf of Revlon.
“Revlon’s decision to join NEST is an exciting step towards our vision of a dynamic, collaborative, innovation ecosystem,” said Matthew Flath, Onyx Equities’ senior vice president of asset management, who oversees the NEST campus. “With their decades-long legacy in beauty and personal care, Revlon complements the forward-thinking research environment at NEST and is helping to establish a community where leading science and technology companies unite to innovate, thrive, and elevate industry standards.”
Revlon is the latest major tenant to lease space at the former Merck headquarters. Cloud-computing startup CoreWeave also recently announced that it would join the roster, similarly drawn by the property’s prime location and world-class facilities.
CoreWeave is leasing the entire 11 NEST building, which was formerly a lab and manufacturing property and spans roughly 280,000 square feet. The space is slated to be converted into a state-of-the-art data center through a collaboration with the property owners and with PSE&G — New Jersey’s largest and oldest utility that currently serves more than 30 large data centers.
The NEST Center encompasses more than 2 million square feet of laboratory, research, and office space across 12 buildings developed and equipped to the highest scientific standards. The campus features a turn-key vivarium; robust and redundant infrastructure; and multiple customizable development opportunities to accommodate a variety of possible tenants.
According to the property website, there are currently 30 acres of development opportunity within the 108-acre Kenilworth campus. Zoning permits a range of uses, including laboratories, manufacturing, offices, and warehousing.
Current campus redevelopment plans include the following:
- Office buildings: 1 NEST, 5 NEST and 6 NEST
- Laboratory/manufacturing: 11 NEST, 15 NEST, 17 NEST and 19 NEST
- Development opportunities include data center space, manufacturing, and warehouse facilities
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