NEW JERSEY—Inland Real Estate Acquisitions Inc. has acquired 100 SciPark, a 65,552-sq.-ft. office and lab building for $17.625 million.
Cushman & Wakefield’s Metropolitan Area Capital Markets Group (CMG) arranged the sale on behalf of the seller, Woodmont Properties, and also secured the buyer.
Completed in 2010 on a speculative basis, 100 SciPark was recently fully occupied with a 15-year lease through 2027 by the Elementis Worldwide subsidiary of Britain’s, Elementis PLC.
Elementis Worldwide, which will use the location as its global headquarters, focuses on the conversion of organic chemicals and minerals into polymers and other materials for use in paints, cosmetics, cleaners and oil exploration. The company’s $10 million fit-out included lab space and pilot plant.
Situated on 20 acres bounded by Route 133 and Old Trenton Road in Mercer County, 100 SciPark is the initial building in an R&D campus. Designed for high-tech companies, the campus is approved for 240,000 sq. ft. spanning four buildings. At build-out, the campus will include a combination of lab, R&D, office and flex space.