Vacancy Rate Rises in Life Science Sector of Northern NJ
Vacancy rates for the life sciences category in Northern New Jersey rose in the second quarter, according to Savills’s recently released Q2 2026 Life Sciences Market Reports.
Overall vacancy increased to 24.4%, up 890 basis points year over year from 15.5%, primarily because of the addition of several large availabilities to the market. Sublease vacancy also rose sharply, increasing to 3% in the second quarter from 1.6% in the same period of 2025.
Advance Realty Investors unveiled plans for Continuum, a 1.1-million-square-foot life sciences and advanced manufacturing campus in Bridgewater and broke ground on the first phase, which will include up to 830,000 square feet of purpose-built life sciences space.
SK Biopharmaceuticals launched SK Life Science LinX, a new innovation facility in Paramus that will provide collaborative workspace and commercialization support for South Korean biotech and pharmaceutical companies entering the U.S.
Among the more notable leases in the quarter were: Medline Industries for 195,416 square feet in Carteret in the Middlesex submarket; Sandoz for 78,391 square feet in Plainsboro in the Princeton submarket; Organon for 70,000 square feet in Florham Park in the Morris submarket; Regenity Biosciences for 60,215 square feet in Oakland in the West Bergen submarket; and Capintec for 25,565 square feet in Florham Park in the Morris submarket.