Prism Capital Partners receives final site plan approval for build-to-suit medical office at ON3
CLIFTON, NJ — Construction is scheduled to begin in the first quarter of 2021 on a build-to-suit medical office building at Prism Capital Partners’ ON3 campus. The firm received final site plan approval this fall for the 80,000 s/f facility, which has been pre-leased by Hackensack Meridian Health.
“The building will occupy a parcel on the southeast corner of Metro Boulevard and Route 3 in Clifton,” said Prism’s Eugene Diaz, principal partner. “It will include an ambulatory surgical center as well as additional multi-specialty practice areas, supporting Hackensack Meridian Health’s mission to deliver the highest-quality healthcare services to the local community.”
The four-story facility, designed by Gensler, will feature a glass curtain wall façade and an attached parking garage that will provide 400 parking spaces for occupants and visitors. Prism anticipates construction will be completed in mid-2022.
The building will be a model of energy efficiency benefiting from ON3’s existing campus infrastructure, including its central utility plant with a 10-megawatt cogeneration facility. “The in-place, multi-redundant heating, cooling and electricity enables the design of buildings with superior efficiency at a lower cost,” Diaz noted.
Hackensack Meridian Health already occupies academic, and research and development space at ON3, which serves as home to the organization’s School of Medicine and Center for Discovery and Innovation (a National Health Institute-designated Clinical Research Center). “From the very start, Hackensack Meridian Health has served as one of ON3’s highest-profile tenants,” Diaz noted. “We take great pride in our expanding relationship and our ability to accommodate this healthcare leader’s diverse needs here.”
ON3 represents New Jersey’s largest contemplated redevelopment. Prism Capital Partners’ ambitious initiative is transforming the 116-acre former Hoffmann-La Roche campus – located on Route 3 just nine miles from the Lincoln Tunnel – into a multi-tenant, next-generation lifestyle hub.