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HomeBusiness NewsRusso, Onyx Plan 827K-square-foot Industrial Facility in East Hanover

Russo, Onyx Plan 827K-square-foot Industrial Facility in East Hanover

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EAST HANOVER — Russo Development and Onyx Equities are planning to bring big changes to a portion of Novartis’s 202-acre U.S. headquarters on Route 10 and Ridgedale Avenue.

On December 13, the partners announced purchasing 62 acres from the pharmaceutical company at Route 10 and Ridgedale Avenue. There, they’ll eliminate 900,000 square feet of vacant office space to build up 826,800 square feet of industrial space.

The site is currently a part of the Novartis 202-acre U.S. headquarters campus.

“We are excited to redevelop a portion of one of northern New Jersey’s premier sites into a first-class industrial project,” said Russo Development CEO Edward Russo. “We appreciate the opportunity to work with East Hanover Township and Novartis as the company transforms its East Hanover campus to a more flexible and collaborative workplace design.”

“Morris County is a jewel for commercial uses of all types because of its extensive highway system and pool of highly qualified, skilled labor,” said John Saraceno, Jr., managing principal for Onyx Equities.

 

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Frank Cahill
Frank Cahillhttps://www.frankcahill.com
Publisher of Parsippany Focus since 1989 and Morris Focus since January 1, 2019, both covering a wide range of events. Mr. Cahill serves as the Executive Board Member of the Parsippany Area Chamber of Commerce, Lt. Governor of Division 9 Kiwanis Club of NJ, and Chairman of the Parsippany-Troy Hills Economic Development Advisory Board. Owner of the Morris now app serving small business in Morris County.
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