ON3 Campus Office Tower in Nutley Sells for $132 Million

200 Metro Blvd Nutley
The sale is New Jersey’s largest suburban office deal of 2022 so far. Image courtesy of Prism Capital Partners.

An office tower in the ON3 mixed-use campus in Nutley, New Jersey, was recently sold for $131.7 million.

The 300,000-square-foot office tower, 200 Metro Boulevard, is part of the 1.5 million-square-foot mixed-used campus which is situated on the border of Nutley and Clifton. The 116-acre, five-building mixed-use campus was acquired by Prism Capital Partners in 2016 and previously served as Hoffmann-La Roche’s North American headquarters. Prism reportedly intends to expand the ON3 complex by 2 million square feet.

Following the upgrade of the campus in 2020, Eisai Inc. signed on as a tenant which brought the property to full occupancy. Eisai Inc. transferred its corporate headquarters to the LEED Gold-certified 200 Metro Boulevard this past spring.

Prism was represented by Eastdil Secured in the recent sale of 200 Metro Boulevard. The buyer, Cantor Fitzgerald, reportedly used a $66.7 million acquisition loan originated by JPMorgan Asset Management.

The transaction is New Jersey’s largest suburban office deal of 2022 so far.


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