Pharmaceutical Real Estate is Growing in Princeton

Princeton, New Jersey has long been a standout in the Tri-State commercial real estate market for a number of reasons. Quality infrastructure and ideal location are probably two of the main reasons why so many businesses in numerous industries continue to call Princeton home. Offering a convenient train line, easily accessible highways, and a location that is equidistant to both New York City and Philadelphia, Princeton is a hub of activity and was recently praised with a spot on Money Magazine’s list of “Best Places to Live and Work” in the United States. These factors can also be considered as reasons why pharmaceutical real estate is growing in Princeton.

Research is also a major part of the community culture here in Princeton – along with the university, there are several acclaimed centers for research, numerous life science companies, as well as a recently completed University Medical Center. The name “Princeton” offers brand-name recognition worldwide. In fact, this was one of the reasons cited by Dr. Reddy’s Laboratories as to why they chose Princeton as the home of their pharmaceutical business.

 

Pharmaceutical Companies Choose Princeton Commercial Real Estate

Dr. Reddy’s Laboratories’ long-term lease for more than 100,000 square feet of space in two buildings on College Road East signifies upward movement in a real estate sector that has seen lackluster activity in recent years. In fact, according to recent reports and information provided by the Princeton Multiple Listing Service, pharmaceutical demand dipped to a four year low during 2012. With an influx of activity in the first quarter of 2013, the pharmaceutical industry accounted for more than 18 percent of all new leasing.

The former home of Bracco Diagnostics, Dr. Reddy’s Laboratories also has plans to relocated more than 150 people to the new headquarters, which is scheduled for completion late summer. By positioning themselves in Princeton, executives at Dr. Reddy’s believe they will be able to tap into local talent and will establish a presence among some of the leading innovation centers of the world. This is just another sign that pharmaceutical real estate is growing in Princeton.

 

Search Pharmaceutical Real Estate in Princeton, New Jersey

If you’re considering a move to Princeton, Tarvin Commercial – the area’s foremost experts in pharmaceutical real estate in New Jersey – welcome you to tour their website to view available properties. Offering chemistry, biology, vivarium and GMP production facilities at very favorable lease terms, they are confident they can find you the facility to not only meet your needs, but to exceed your expectations.

Some of the area’s available pharmaceutical facilities in and around the Princeton area and throughout the Tri-State area include:

  • Tarrytown, NY: 7,500 SF to 77,000 SF Chemistry and Biology Labs
  • Ramsey, NJ: 37,000 SF Chemistry & Biology Labs and Vivarium
  • Montvale, NJ: 12,000 SF to 45,000 SF Chemistry and Biology Labs
  • Totowa, NJ: 120,000 SF Oral Solid Dosage Manufacturing Facility
  • Bridgewater, NJ: 16,000 SF to 115,000 SF Turnkey Chemistry & Biology Labs
  • Cranbury, NJ: 5,000 SF to 65,000 SF Heavy Chemistry and Biology Labs

These are just a few of the many opportunities available to pharmaceutical companies throughout the Tri-State area and within the Princeton commercial real estate market. For a complete listing, please contact the team at Tarvin Commercial.

 

Explore the Pharmaceutical Real Estate Market in New Jersey

To learn more about the pharmaceutical real estate market in Princeton and the surrounding Tri-State areas or to learn more about why pharmaceutical real estate is growing in Princeton, please do not hesitate to contact a team member at Tarvin Commercial Real Estate today!

Backed by more than two decades of experience in this real estate sector, their team of knowledgeable and experienced professionals looks forward to helping you achieve all your real estate goals, whether leasing, selling, or buying. Connect with them today to learn more.

 

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