Panera Bread Signs 3,500-SF Lease at ON3 Mixed-Use Campus in Clifton, NJ, Advancing Retail Build-Out

CLIFTON, N.J. — Prism Capital Partners has signed a 3,500-square-foot lease with Panera Bread at its ON3 mixed-use campus in Clifton, N.J., the firm announced March 19, 2026. The bakery-café, which will feature drive-thru service, will occupy a pad site just off Route 3 and represents the latest retail addition to the 116-acre redevelopment project.

Retail Tenant Mix Expands at ON3

Panera Bread joins a growing roster of national retailers at ON3. Starbucks opened at the property in late 2024, while Chipotle and Chase Bank are currently under construction. The new lease continues Prism's stated strategy of curating a tenant mix oriented toward what the firm describes as a live-work-play lifestyle campus.

"The Panera Bread lease advances our goal to curate a well-balanced mix that serves the surrounding community and complements our campus' live-work-play lifestyle," said Edwin Cohen, principal partner at Prism Capital Partners. "ON3's retail component is well underway, and we look forward to finalizing more additions in the near-term."

RIPCO Real Estate represented Prism Capital Partners in the transaction. Newmark served as tenant broker. Prism Construction Services will oversee turnkey development of the stand-alone restaurant, with construction expected to begin in early April 2026. No financial terms of the lease were disclosed.

ON3 Campus Background

Prism Capital Partners began its vision for ON3 in 2016 with the acquisition of the former Hoffmann-La Roche North American Headquarters campus, which spans both Clifton and Nutley, N.J. The firm has since focused on transforming the 116-acre complex into a multi-tenant hub integrating office and R&D, educational, residential, recreational, retail, hospitality, and wellness facilities.

The campus currently contains 1.55 million square feet of fully occupied office, R&D, lab, and convenience retail space. More than 2 million square feet of additional space is planned for the site. Panera Bread's pad site will be accessible via new campus ingress and egress lanes that are nearing completion.

ON3 is home to a range of institutional tenants, including Hackensack Meridian School of Medicine, the Hackensack Meridian Health Center for Discovery and Innovation — an NIH-designated Clinical Research Center — Eisai Inc., Quest Diagnostics, The Ralph Lauren Corporation, Seton Hall University's Graduate College of Nursing and School of Health and Medical Sciences, Modern Meadow, and Proponent Federal Credit Union. The Hackensack Meridian Health & Wellness Center at Clifton opened at the campus last summer.

Prism Capital Partners: Firm Profile

Prism Capital Partners, which maintains its headquarters at ON3, is a New Jersey-based real estate investment and development firm geographically focused on the New Jersey, New York, and Connecticut regional market. The firm specializes in identifying, acquiring, and developing value-added opportunities across the office, R&D, education, retail, industrial, and residential sectors. To date, Prism and its capital partners have invested more than $1 billion across 20 projects totaling over 5 million square feet over the firm's 24-year history.

Panera Bread, which first opened in 1987, currently operates more than 2,200 bakery-café locations across 48 states, Washington, D.C., and Ontario, Canada.