SGA has been selected by Thor Equities Group to re-design 95 Greene Street as a “lab ready” building suited for life sciences, pharmaceutical, green tech, ag-tech, healthcare, and medical tenants in downtown Jersey City, NJ.
Thor is in contract to acquire the former Liberty Innovation Center from SJP Properties for $94 million as part of an expansion of the company’s dedicated life sciences platform, Thor Sciences.
“We’re very excited to work with the Thor Equities team in redesigning 95 Greene Street into a vibrant place-to-be for life sciences tenants,” said Brooks Slocum, AIA, New York Studio Manager at SGA. “It is an ideal location for tenants who want to stay in the highly sought-after New York/New Jersey metropolitan area, and we look forward to bringing Thor’s vision for a state-of-the-art property to life.”
The eight-story, 350,000 s/f building originally served as a primary manufacturing facility for Colgate Palmolive. Thor Equities Group is purchasing the building from SJP Properties, who acquired the property in partnership with PGIM Real Estate in 1999 and converted it into a Class A office building that was occupied by Merrill Lynch for many years.
Located at the intersection of Greene and York streets, 95 Greene Street is in the heart of Jersey City’s Paulus Hook neighborhood. The property is a short walk from the Exchange Place PATH Station, NY Waterway Ferry and the Exchange Place stop of the new Hudson-Bergen Light Rail system.
In addition to access to public transportation and a highly skilled labor force, 95 Greene Street 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 will allow for future expansion as the needs of laboratory tenants adjust with their requirements. These features create an innovation ecosystem that provides state-of-the-art facilities faster than anywhere else in the Tri-State area.