Princeton West Innovation Center Hopewell, NJ

As exclusive agents and joint advisors, Cushman & Wakefield and Newmark are pleased to present Princeton West Innovation Campus (PWIC) for sale. Formerly serving as the HQ for Bristol-Myers Squibb (late 1990’s to 2020), this world-class biopharmaceutical R&D and manufacturing campus totals 854,421 SF and has been the beneficiary of over $600MM worth of capital investment since it’s inception. Most notably, the campus is supported by a robust central utility complex, arguably the most critical real estate component to end-user success in the lab and biotech industry by ensuring “speed to market” vs. competition. The extraordinary on-site infrastructure at PWIC has resulted in high leasing velocity (Gennao, GenScript ProBio, Enzene, among others) and user-purchaser activity (ie. Beigene) and makes it a truly “one-of-one” option for users seeking full-service lab, pharmaceutical manufacturing and R&D capabilities. 

In addition, the site has the ability to support upwards of +/-89MW of power (35MW readily available) to accommodate data center uses. 

Low Risk / High Upside

• 854,421 sq. ft. campus on 391 acres with 30 buildings.

• 82% leased to six tenants, 10.6-year WALT, $35.84 PSF rent.

• $10.8 million invested since 2020; 380,432 sq. ft. leased.

• Potential for lab conversion, increasing NOI by 3X.

• PILOT agreement potential and approvals for 234,180 sq. ft. of new buildings.

• Strong lease-up, repositioning, and development opportunities with stable cash flow.

Investment Highlights