NEST Center, a redevelopment project in Kenilworth, NJ that was once the global headquarters of Merck, has announced its first academic partner: New Jersey Institute of Technology (NJIT). The university will establish the NJIT @ NEST Center for Translational Research on the 100-acre site.
According to John Saraceno, co-founder and managing principal of Onyx Equities which is leading the redevelopment project, having an academic partner like NJIT is crucial for creating a successful ecosystem between private and public sectors as well as large companies and startups. This partnership will have a positive impact on both healthcare and humanity.
This announcement comes after recent news about CoreWeave establishing an AI data center at one building within NEST campus while Revlon relocates its Science and Innovation Lab to another building. Having both CoreWeave and NJIT located at NEST supports the university’s growth in fields such as machine learning, computer vision, natural language processing,and robotics.
The ownership group consisting of Onyx Equities,Machine Investment Group,and Pivot Real Estate Partners was represented by Dan Loughlin from JLLand Jonathan Scheinberg from Outshine Properties during this partnership negotiation.
