Advance Realty Investors plans to develop a ground-up research-and-development campus with up to 1.1 million square feet of space in central New Jersey.
The Bedminster, New Jersey-based real estate firm on Monday unveiled its plans for Continuum, slated for a 60-acre parcel at 1041 U.S. Highway 202/206 in Bridgewater. The project is "conceived as a next-generation innovation campus" that "integrates research and development, advanced manufacturing, logistics, and shared amenity spaces into a cohesive, end-to-end ecosystem," according to Advanced Realty.
The development already has an approved site plan, and the first phase of construction is underway, Advance Realty said. The project is supported by a long-term payment-in-lieu-of-taxes, or PILOT, agreement with the township of Bridgewater, providing tenants with "operational certainty and a clear path to occupancy," according to the developer.
When completed, Continuum will have up to 830,000 square feet of purpose-built life sciences facilities, 250,000 square feet dedicated to logistics and advanced manufacturing, and more than 20,000 square feet of retail and amenity space, including a centrally located pavilion designed to promote community across the campus. Planned on-site amenities include dining options, fast-casual eateries, shared workspaces, and conference and event space.
The development will be within the center of the New Jersey-New York biopharmaceutical corridor, with direct access to one of the nation's most concentrated hubs of scientific talent, capital and research institutions, Advance Realty said.
New Jersey is home to seven of the largest global pharmaceutical companies and eight of the world's top R&D companies, according to the nonprofit Choose New Jersey. The state also ranks No. 1 in the nation for concentration of scientists and engineers and No. 2 nationally for the share of residents with a college degree.
For the record
JLL has been exclusively retained to lead leasing for the campus.