EAST HANOVER — Two premier office towers adjacent to Novartis’ northeast headquarters complex in East Hanover, totaling 350,000 square feet, now have space available for lease. This announcement was made on Monday by JLL, which has been appointed as the exclusive marketing and leasing agent for the properties.
The two buildings, located at 310 and 315 Health Plaza, were recently purchased by New Vernon Equities, a locally based investment group, from global pharmaceutical leader Novartis.
New Vernon Equities plans to integrate 310 and 315 Health Plaza into its newly envisioned Arena development, a six-building, 625,000-square-foot innovation hub spanning 20 acres. The development is designed to include multiple outdoor spaces and shared areas to foster collaboration and encourage community interaction.
Novartis will retain approximately 100 acres of its campus, highlighting its ongoing significance in the pharmaceutical industry and its commitment to the local community. Additionally, a partnership between Russo Development and Onyx Equities is repurposing 62 acres, acquired from Novartis in 2021, into a flexible technology and industrial campus.
“New Vernon Equities is excited to finalize the acquisition of 310 and 315 Health Plaza and to introduce our visionary plan to transform this pharmaceutical complex into a modern, dynamic campus,” said Peter Gilpatric, who co-founded New Vernon Equities in 2019 with Michael Mackessy and Mike Petillo. “Arena will serve as a hub where diverse organizations can come together to collaborate. The campus will feature workspaces integrated with lush outdoor lounges and vibrant amenities that inspire innovation and connection.”
New Vernon Equities has previously acquired four properties surrounding the Novartis campus. These include 30 Farinella Drive, fully leased to biotech leader GenScript; 31 Farinella Drive, currently available for lease; and 135 Route 10, a two-story office building undergoing reimagining for future use.
The Arena development, totaling 625,000 square feet of office and research space, is being designed to enhance well-being, promote inclusivity, and provide an ideal environment for productivity and growth. An immersive biophilic corridor will connect 310 and 315 Health Plaza, and the campus will include multiple cafeterias, fitness centers, wellness zones, and expansive outdoor spaces for recreation and relaxation. The JLL leasing team consists of Executive Managing Director Tim Greiner, Managing Director Blake Goodman, and Associate Colleen Maguire.
“We are proud to contribute to transforming this iconic New Jersey workplace into a hub for the workforce of the future,” said Greiner. “As the name suggests, Arena will be a center of activity, innovation, and collaboration, inspiring the next generation of innovators from companies that can grow and learn together.”
The Arena campus will primarily occupy the southeast quadrant of the intersection of New Jersey Route 10 and Ridgedale Avenue in East Hanover, a community consistently ranked among New Jersey’s best places to live and a prominent amenity corridor in Morris County. The property offers convenient access to Route 10, Route 24, and Interstate 287, as well as proximity to Morristown Airport, ensuring accessibility from all directions.
