SUMMIT, NJ-Jones Lang LaSalle will manage the sale of the 1.5 million-square-foot Merck research and development campus and attempt to attract another life science or research company to the 12-building, 88-acre campus here along Morris Avenue.
Daniel Loughlin, JLL's lead broker in New Jersey, said the property is “move-in ready” as “research, innovation and commercialization space."
Last fall, Merck dealt a blow to Summit when it announced it would move its global headquarters to its Kenilworth campus as it consolidates from the Whitehouse Station section of Readington – rather than to the Summit campus, as it had previously planned. .
Loughlin, along with JLL's Joseph Garibaldi, Peter Ladas and Jodie Matthews, will handle the project of re-tenanting the huge campus – another in a cache of what planning experts have termed New Jersey's “suburban dinosaur” office spaces.
Also in the last week, Roche has begun marketing some of its vacated buildings at the Nutley/Clifton campus it had occupied for 90 years, and shut down last year.
The Merck complex has facilities for both chemical and biotechnology research, a pilot plant, and manufacturing and warehouse space. JLL said there are approved plans for 200,000 square feet of expansion
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