BMS Sells Former Life-Sciences Site in NJ to Two Real Estate FirmsBy
Bristol-Myers Squibb has sold a former 1.2-million-square-foot life-sciences campus in the Princeton, New Jersey area to the real-estate firms, Lincoln Equities Group and H.I.G. Realty Partners. The 433-acre campus is located seven miles from Princeton in Hopewell, New Jersey.
The multipurpose R&D and biologic/pharmaceutical manufacturing campus features nine principal buildings consisting of clinical manufacturing, laboratories, office space, R&D support space, storage facilities and a data and command center. The site is also zoned for commercial manufacturing and features 35 acres of additional development opportunity and can expand to approximately 2.8 million square feet.
The former BMS site currently houses PTC Therapeutics, which occupies over 200,000 square feet, including a biologics production facility and R&D buildings, according to information from Lincoln Equities.
In 2016, Bristol-Myers Squibb announced a plan to evolve its manufacturing network in alignment with its product focus and priorities with an emphasis on biologics. At the time of the announcement in 2016, the company said that approximately 75% of its developmental pipeline was in biologics and that the company would continue to invest in biologics manufacturing and streamline small-molecule operations. The company pointed to two large-scale biologics manufacturing operations in the US and Europe. Since then, the company has also added to its manufacturing network through its $74-billion acquisition of Celgene, which was completed in 2019.
Source: Lincoln Equities Group