Thor Sciences, a division of Thor Equities, has begun construction to complete base building infrastructure on 95G, the first lab-ready life sciences property in Jersey City.
JLL is the exclusive leasing agent for the 350,000 s/f, eight-story property, located at 95 Greene Street. The building is currently being repositioned for R&D use by SGA Architects.
Thor Sciences acquired the former Liberty Innovation Center from SJP Properties for $94 million last spring as part of an expansion of the company’s dedicated life sciences platform.
In an adaptive re-use project, it is creating a robust utilities infrastructure and power resources served by multiple utility grids. Base building work will include extensive upgrades to mechanicals, HVAC, vertical conduits and a new rooftop generator. The project will include a pre-built lab suite on the third floor. This suite, along with the completion of base building upgrades, will be delivered by the end of summer 2021.
Dan Loughlin, vice chairman; Craig Eisenhardt, managing director; Dan Spero, managing director; Blake Goodman, executive vice president; Bob Ryan, senior vice president; and John Cahill, senior vice president; with JLL; will lead the leasing team for the property.
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.
The property offers 13- to 14-foot ceiling heights, secured interior loading docks, on-site life-safety generator and flexible floor plates. Onsite underground parking is available for 125 vehicles.
“This is the first lab-ready facility in urban New Jersey, ideally located between the large pharmaceutical companies in suburban New Jersey and the growing life sciences hub in New York City,” said Joseph Sitt, founder and CEO of Thor Equities.
“The property stands at the center of a diverse and highly educated talent pool and provides easy access to the region’s medical centers, higher-education institutions and accelerators that are at the source of the remarkable life sciences growth in the region.”