EDA Unveils Another 86,000 SF of Tech Space

The new space is available for lease, and EDA is targeting biotechnology, pharmaceutical and microelectronics companies. The availability includes a new two-story, 60,000-sf core-and-shell facility that can be subdivided into 15,000-sf units, according to EDA officials. The remainder of the new space is comprised of a 26,000-sf lab structure. EDA has slated a broker event for Wednesday to introduce the space.

"We expect this space to be leased quickly," says Caren S. Franzini, executive director of the EDA. "More than $100 million is being invested in facilities and improvements at the Tech Centre. This development has been spurred by funding from the legislature and the Commission on Science and Technology, as well as substantial investments by the AFL-CIO Building Investment Trust, and by the tenant companies themselves."

To date, almost 330,000 sf of space has been completed at the project, and EDA officials project a build-out of up to 500,000 sf. Current tenants include Cambrex, a life sciences company; Celgro, the agrochemical subsidiary of Celgene; Chubb Computer Services; Merial Ltd., a producer of animal pharmaceuticals and vaccines; and Rutgers University, which uses the facility for agricultural research. Rutgers' Cook College campus is nearby.

Another seven tenants, all involved in the field of life sciences, occupy space in the 20,000-sf Commercialization Center for Innovative Technologies within the larger Tech Centre. The Commercialization Center opened last year as an incubation center and is currently 90% leased.

EDA continues to offer a number of financial benefits to Tech Centre tenants, according to Franzini, including construction improvement allowances, which fund enhancements of up to $100 per sf. Tenants can also access capital through a number of EDA financing programs designed for high-tech companies, as well as EDA bond financing, loan, guarantee and incentive programs.

The Princeton, NJ-based CUH2A is responsible for master-planning the site and for the design of the Tech Centre's various buildings. Torcon, based in Westfield, NJ, is the general contractor.