Prism Capital Partners Marks 10 Years at ON3, a 116-Acre Mixed-Use Campus in Clifton and Nutley

CLIFTON and NUTLEY, N.J. (Oct. 8, 2026) – Prism Capital Partners announced that its ON3 redevelopment, the former Hoffmann-La Roche North American headquarters campus, now houses 1.55 million square feet of 100%-occupied office, research and development, and retail space, 10 years after the firm acquired the 116-acre site in fall 2016.

Prism said more than $100 million in infrastructure investment, along with key rezoning and redevelopment plan approvals, have paved the way for up to 2 million square feet of additional multi-sector development. The campus spans Clifton and Nutley along Route 3, about nine miles from Manhattan.

ON3 Redevelopment: From Vacant Single-User Site to Mixed-Use Campus

When Prism Capital Partners acquired the property, it was a vacant, single-user campus. The firm described the project as New Jersey's largest mixed-use redevelopment and said it required navigating planning and approvals in two municipalities in two separate counties. Prism said the process was marked by lengthy delays tied to regulatory requirements and local legal challenges, all of which were resolved in the firm's favor. It also cited the effects of the global pandemic on the project's progress.

"We are incredibly proud of what we have accomplished at ON3 – with a healthy dose of frustration at the unnecessary hurdles that have slowed our progress," said Eugene Diaz, principal partner at Prism. "Our unwavering belief that ON3 would become a thriving, live-work-play community, one that would restore the tax ratables and thousands of jobs lost when Roche left the state, is bearing fruit. This campus today is contributing immeasurable positive economic and community impact, with so much more ahead."

Diaz and Edwin Cohen, also a principal partner at Prism, identified the site's Route 3 location as an advantage, according to the firm. "ON3 serves as a prime example of transformational land use and creative visioning in suburban redevelopment," Cohen said. "We built it; they came."

Tenants at ON3 in Clifton and Nutley

ON3's institutional and corporate occupants employ more than 5,500 professionals on campus. Prism listed the following tenants by sector:

• Pharmaceutical: Eisai Inc.
• Research and development: Hackensack Meridian Health Center for Discovery and Innovation
• Medical education: Hackensack Meridian School of Medicine, and Seton Hall University's Graduate College of Nursing and School of Health and Medical Sciences
• Diagnostics: Quest Diagnostics
• Community healthcare: Hackensack Meridian Health & Wellness Center at Clifton
• Corporate: The Ralph Lauren Corporation and Proponent Federal Credit Union
• Retail: Starbucks, Chase and Chipotle

Approved Future Phases and Upcoming Construction

Prism's Construction Management team recently broke ground on a Panera Bread restaurant. The firm said additional national dining tenants and a neighborhood grocer will be announced soon. Diaz and Cohen also anticipate a 2027 construction start for a 266-room, dual-branded Marriott AC/Element Hotel with a rooftop bar.

Three key redevelopment plan approvals from the City of Clifton and Township of Nutley are in place. Together they enable construction of:

• Up to 1,074 multifamily units
• Approximately 90,000 square feet of additional retail space
• A 150,000-square-foot R&D facility
• An 11-acre parcel at 275 Kingsland St. in Nutley, slated for a data center or other permitted use

The Clifton approval covers the multifamily and retail components along Route 3 East, while the Nutley approvals include the Innovation Center tract fronting Kingsland Street and the 275 Kingsland Street parcel. Additional entitled parcels can accommodate build-to-suit office and other commercial uses.

"ON3 is at a pivotal moment," Cohen said. "The next phases of development will establish the campus's true 24/7 environment. Already, ON3 serves as a benchmark in New Urbanism – having created long-term, sustainable value. Every day, we are a step closer to maximizing its full potential."

Central Utility Plant, Parking and Sustainable Design

Prism said ON3 is the first mixed-use redevelopment in New Jersey to integrate a central utility plant into its operation, reducing energy draw from the grid and providing power redundancy for campus occupants. Hoffmann-La Roche originally constructed the 10-megawatt co-hybrid power plant in 1943, with several additions over the decades, including cogeneration equipment.

"Establishing an energy infrastructure that will support New Jersey's economic growth is top of mind in our state, and rightly so," Diaz said. "Ongoing modernization of the utility under Prism's ownership has made ON3 even more self-sufficient as development accelerates."

The site's impervious coverage was approximately 97% in 2016. The conceptual master plan reduces that to approximately 80% with the addition of 20 acres of green space, including parks, walking paths and other natural features. Prism has built structured parking totaling nearly 4,400 spaces in three locations, and Quest Diagnostics built its own garage with approximately 1,000 spaces. New streets, improved traffic circulation, electrical grid enhancements, and new sewer and storm water systems are intended to support current occupants and the campus at build-out. Project materials also identify a completed $30 million site-work program that included new and rebranded streets, streetscaping, landscaping and internal roadways.

Market Context: Repositioning a Former Corporate Campus

ON3 reflects the conversion of a former single-user corporate campus into a multi-tenant district with several demand drivers, including life sciences and medical employment, higher education, corporate office, retail and restaurants. Future phases add hospitality, housing and potential data-center use. Prism's approvals reduce entitlement uncertainty for the largest remaining components of the project. The next phases, which include apartments, a hotel, additional retail, a new R&D facility and a potential data center, are more capital-intensive than the existing space.

ON3 is Prism's flagship development. The regionally focused owner/operator maintains its headquarters on campus, at 310 Kingsland St. in Nutley, and has a track record across the office, R&D, education, retail, industrial and residential sectors. The 24-year-old company, with its capital partners, has invested more than $1 billion in 20 projects totaling over 5 million square feet to date.

Sources

• Prism Capital Partners press release: Prism's ON3 from Vision to Reality: 10 Years of Progress at New Jersey's Largest Mixed-Use Redevelopment