Revlon signs lease for research and development office in New Jersey

The ownership team of the Northeast Science and Technology (NEST) Center research and development campus recently announced that global beauty company Revlon has decided to relocate its New Jersey-based research and development laboratory to state-of-the-art facilities in Kenilworth. NJ

Revlon’s decision to join NEST was reportedly motivated by the campus’ state-of-the-art infrastructure and strategic location. With this move, Revlon aims to make the most of its new location to accelerate innovation and develop breakthrough products. The company will consolidate its research, pilot manufacturing and office functions into 62,000 square feet of space in the 15th NEST building. With a total area of ​​around 1.2 million square meters, 15 NEST once served as Merck’s global research headquarters. Revlon is the first tenant to sign up since the former tenant moved out.

“Revlon chose NEST because of its existing laboratory infrastructure, which will help us further strengthen our innovation capabilities and provide a state-of-the-art environment to meet our specific R&D needs,” said Lise Jorgensen, Chief Scientific Officer of Revlon. “This significant investment in our research and development capabilities represents a critical and exciting step in Revlon’s future and reinforces our commitment to developing the most advanced consumer-focused products for our brands around the world.”

Ownership group Onyx Equities, Machine Investment Group and Pivot Real Estate Partners were represented by JLL in the lease negotiations, while Newmark worked on behalf of Revlon.

Revlon is only the latest major tenant to rent space in the former Merck headquarters. Cloud computing startup CoreWeave also recently announced it will be joining the list, again due to the property’s prime location and facilities.

CoreWeave said it will lease the entire 11 NEST building, which was formerly a laboratory and manufacturing facility covering approximately 280,000 square feet. The space will be transformed into a state-of-the-art data center through a collaboration with the property owners and with PSE&G – New Jersey’s largest and oldest utility, which currently serves more than 30 large data centers.

“Revlon’s decision to join NEST is an exciting step toward our vision of a dynamic, collaborative innovation ecosystem,” said Matthew Flath, senior vice president of asset management at Onyx Equities, who leads the NEST campus. “With its decades-long heritage in beauty and personal care, Revlon complements the forward-thinking research environment at NEST and helps build a community where leading science and technology companies come together to innovate, grow and improve industry standards.”

The NEST Center includes more than 2 million square feet of laboratory, research and office space in 12 buildings designed and equipped to the highest scientific standards. The campus features a turnkey vivarium, robust and redundant infrastructure, and multiple adaptable development options to accommodate a variety of potential tenants.

According to the property’s website, there are currently 30 acres of development opportunity on the 108-acre Kenilworth campus, and zoning allows for a range of uses, including labs, manufacturing, offices and storage.

Current campus redevelopment plans include the following:

• Office buildings: 1 NEST, 5 NEST, 6 NEST
• Lab/Manufacturing: 11 NEST, 15 NEST, 17 NEST, 19 NEST
• Development opportunities include data center space, manufacturing and storage facilities.

Looking to lease R&D or laboratory office space in New Jersey or other strong markets in the region? Visit the CommercialCafe.com homepage to start your search.

New Jersey

Last modified: November 29, 2024

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About the author / Ioana Ginsac

Ioana Gînsac is a creative writer who writes about CRE for several Yardi product publications. Topics include industry news, US office and industrial market reports, and features on development, architecture, urbanism, proptech, design and more. Her work has appeared in AmericanInno, Bisnow, BusinessInsider, Commercial Property Executive, Curbed, Fast Company, Forbes, GlobeSt, Inc, Patch, and The Real Deal.

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