NUTLEY/CLIFTON, NJ—PB Nutclif I, an affiliate of locally based Prism Capital Partners, has completed the purchase of the 116-acre former Hoffmann-La Roche North American Headquarters campus spanning the Township of Nutley and City of Clifton. As previously reported by GlobeSt.com, Hackensack Meridian Health and Seton Hall University committed to leasing two major buildings and 16 acres at the property.

“Following two full years of comprehensive diligence and complex negotiations involving many stakeholders, the pieces are now in place to move this landmark campus into its next chapter as a preeminent commercial location,” says Prism's Eugene Diaz, principal partner. “With the cooperation of Roche, we already have secured an outstanding long-term anchor tenant and new-business magnet.”

With financial and development approvals by both municipalities now in place, Seton Hall and Hackensack Meridian immediately will launch improvements to convert the leased buildings to accommodate the needs of the new Seton Hall-Hackensack Meridian School of Medicine. Seton Hall will co-locate its College of Nursing and School of Health and Medical Sciences at the site, and Hackensack Meridian plans to create a National Health Institute-designated Clinical Research Center there as well.