While much of corporate America rethinks its investment in physical offices, biotechnology companies are still wedded to laboratories and research facilities.
Onyx Equities, which earlier this year bought Merck & Co.’s former Kenilworth, New Jersey headquarters, is counting on that demand, determined to fill the space with biotech tenants.
The company purchased the 108-acre site in February with plans to establish the Northeast Science and Technology Center, which it announced at an industry conference in June. Merck, meanwhile, last year moved its global headquarters to a larger site in Rahway, New Jersey.
