Onyx taps Outshine Properties as leasing, asset management partner as renovations begin at NEST life sciences campus in Kenilworth – Real Estate NJ

Onyx Equities has unveiled plans for The Northeast Science and Technology Center, or NEST, as it prepares a broader campaign to attract new life sciences and biotechnology firms to the 2 million-square-foot former Merck & Co. campus in Kenilworth. — Rendering courtesy: Onyx

By Joshua Burd

Onyx Equities is set to begin renovations at the 2 million-square-foot former Merck & Co. campus in Kenilworth, having teamed with a known life sciences developer to spearhead its plan to upgrade and bring new tenants to the property.

The firm, which acquired the campus last year alongside Machine Investment Group, said Merck has vacated all but one building on the 108-acre campus at 2000 Galloping Hill Road. That has paved the way for the next phase of what’s now called the Northeast Science and Technology or NEST Center, starting with renovations to a 280,000-square-foot pilot research and development plant that will be branded as 11 NEST.

Onyx also announced Tuesday that it has tapped Outshine Properties — an investment and development firm focused on life science and knowledge economy assets — to implement the broader strategy for repositioning and to provide leasing and asset management advisory services to the NEST campus.

“The caliber of current lab and biomanufacturing space and related infrastructure at NEST is unparalleled nationally,” said Jonathan Scheinberg, managing principal and founder of Outshine Properties. “Merck spared no expense in the build-out and infrastructure redundancy of its world headquarters. The partnership between Onyx Equities, one of the nation’s premier commercial real estate organizations, and Outshine Properties, real estate industry leaders in life sciences assets, will ensure the campus is primed and ready for the world’s most innovative companies to pursue the next stages of global research and development.”

The firms noted that the NEST campus’ existing facilities include 1.4 million square feet of modern laboratories and biomanufacturing facilities, 500,000 square feet of Class A office space, an existing vivarium and more than 30 acres of redevelopment opportunities. Ownership expects those offerings to attract a host of life science tenants, especially those in cutting-edge research fields such as cell, gene and immunotherapy, while the site also has the infrastructure to support advanced data storage and processing capabilities.

Onyx said the soon-to-be-renovated facilities at 11 NEST will be specifically tailored to meet the needs of such companies, especially those engaged in biomanufacturing.

“With a commitment to fostering innovation, the NEST Center is poised to become a vibrant ecosystem where ideas flourish and translate into real-world solutions,” said Matthew Flath, senior vice president of asset management at Onyx Equities. “When complete, the campus will be prime for startup incubation, educational research and even talent acquisition from regional colleges and universities. NEST is not merely a physical space. It represents a paradigm shift, propelling educational, entrepreneurial and employment landscapes into a future defined by excellence and ingenuity.”

In the coming year, the NEST campus will host its first-ever life science conference in partnership with Bisnow, according to a news release. The conference will bring together life science real estate professionals for transformative discussions and insights, setting the stage for exploration of innovation within the life sciences industry.