Designed by SGA, Construction Starts on First Lab-Ready Life Sciences Property in Jersey City, NJ
April 2, 2021
SGA, the Boston and New York City-based national award-winning architecture, interior design, planning, branded environments and virtual design and construction practice, today announced that construction has started on the first lab-ready life sciences property in Jersey City, NJ. Designed by SGA, the property is being developed by Thor Sciences, a division of Thor Equities.
Located at 95 Greene Street, the 340,000-square-foot, eight-story property is being repositioned for R&D use. JLL is the exclusive leasing agent for the building. Thor Sciences acquired the former Liberty Innovation Center from SJP Properties for $94.5 million last year as part of an expansion of the company’s dedicated life sciences platform.
“We’re excited that construction on Jersey City’s first lab-ready life sciences property has begun. Construction of pre-built laboratories is the best way to enable the local life sciences field to grow, because step-out or graduation space is the next type of facility that start-ups typically require as they exit accelerators or incubators, and begin receiving capital,” said Brooks Slocum, AIA, SGA’s New York Studio Director. “In an evolving market, where there isn’t a lot of lab space available, pre-built labs have become the preferred method for creating momentum. Pre-builds are the fastest way to attract tenants that need space in order to conduct research. We’re thrilled that Thor Sciences had a unique vision for this project.”
Joe Sitt, Chairman of Thor Equities Group, added: “We are pleased to announce construction has commenced at 95 Greene Street. An outstanding project in an unbeatable location, 95 Greene street offers best-in-class lab ready infrastructure and will enrich our growing life sciences portfolio. With SGA’s diligence, we look forward to delivering pre-built lab space this summer,” said Chairman of Thor Equities Group, Joe Sitt.
95 Greene Street, a repositioning project, will feature infrastructure essential to life sciences, healthcare, and technology organizations, including an enlarged core to provide generous mechanical shaft space and a high-speed service elevator that links laboratories to an enclosed ground floor loading and storage area. A rooftop mechanical level provides all new services to the entire building, while allowing for the future needs of individual tenants. The modular configuration of mechanical spaces gives the option of customizable expansion as laboratory tenants adjust their requirements. These features create an innovation ecosystem that provides facilities faster than anywhere else in the Tri-State area.
The property offers 13- to 14-foot ceiling heights, secured interior loading docks, on-site life safety generators and flexible floor plates. On-site underground parking is available for 125 vehicles.
Located at the intersection of Greene and York streets in Jersey City’s Paulus Hook neighborhood, 95 Greene Street served as a toothpaste manufacturing facility for Colgate Palmolive until 1987, and was later converted into a Class-A office building occupied by Merrill Lynch.
About Thor Equities
Thor Equities is a leader in the development, leasing and management of office, industrial, laboratory, residential, hotel and mixed-use assets in premier urban locations worldwide. The company operates in major cities around the globe and has a property portfolio totaling $20 billion with a development pipeline in excess of 50 million square feet. Thor has a strong presence on three continents and in addition to its US holdings, the company has assets in European gateway cities including London, Paris, Madrid, and Milan, and is the largest developer in Mexico through its Latin American division with a development pipeline of over 18 million square feet. Thor maximizes returns for institutional investors by recognizing a property’s potential, reducing operating expenses, increasing tenant satisfaction, leveraging market trends to maintain a long-term competitive edge. For more information, visit www.thorequities.com.