Roche site finds its buyer

July 22, 2016

CLIFTON – Four years after pharmaceutical giant Roche revealed the imminent closure of its Route 3 operation, officials last week announced a North Jersey redeveloper had purchased the 116-acre property.

Officials say nearly two years of research and intense negotiations preceded Roche’s sale to PB Nutclif I LLC, an affiliate of the Bloomfield-based company, Prism Capital Partners.

Prism, a real estate owner and operator focused on the tri-state market, specializes in acquiring office, retail, industrial and residential properties.

At the same time that the purchase and sale agreement was signed, Hackensack Meridian Health and Seton Hall University committed to a 25-year lease of two major buildings and 16 acres at the property for the purpose of establishing the only private medical school in the state.