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COTA to Team with IBM Watson Birthday Quest Genius Gala On its 50th Annual event at Liberty Science Center honors STEM greats. Page 8 anniversary, Quest Diagnostics shows how it’s preparing REAL ESTATE EB-5 Program for the future REPORT How sudden interest in Page 4 Our 20-page section takes decades-old program a look at development in could impact New Jersey ® Elizabeth and Trenton. developers. Bergeron Pullout Section column. Page 11 njbiz.com MAY 15, 2017 $2.00 SPOTLIGHT: ENERGY COTA to team A look at how three energy entrepreneurs are continuing with IBM New Jersey’s reputation as ‘The Innovation State’ / Page 17 Watson New technology coming to cancer care program BY ANJALEE KHEMLANI How’s this for a diagnosis? The doctor walks in and says, “Well, I just consulted with every- one on the planet Earth over the last 30 years to see how they took care of people like you, and then I looked at a database that precisely looked at people who have exactly what you have, and are exactly like you, and this is what I have learned in the past five minutes, and this is why I am go- ing to recommend this treatment.” That, said Dr. Andrew Pecora, is what the new pilot program between COTA and IBM Watson is all about. “It was only dreamed about, it was only in science fiction movies and now it’s become reality,” said Pecora, found- er of COTA and chief innovation officer at Hackensack Meridian Health. The hospital system announced the pilot program at its annual event in New Brunswick last Wednesday eve- ning. It will be a collaboration of algo- rithms — the learning of IBM’s Watson artificial intelligence and the medical database of COTA. The implications are huge. And it will all begin with a pilot in New Jersey. See HACKENSACK on page 13 For address or name corrections, fax label to (732) 846-0421 INDEX Business Around the State ....2 Spotlight ...............................17 Leaderboard ............................6 Lists .......................................22 Grapevine .................................7 Deals Roundup .....................24 Opinion ..................................15 Guest List ..............................27 Subscribe to NJBIZ: call (866) 288-7699 NJBIZ delivers daily news and analysis of New Jersey’s important economic issues online at njbiz.com. Sign up for our daily e-mail alerts, read our blogs, write a letter to the editor and more. Energizing New Jersey HOW TO REACH US BUSINESS AROUND THE STATE MAILING ADDRESS NJBIZ, 220 DAVIDSON AVE., SUITE 302 SOMERSET, NJ 08873 BRIEFS PHONE (732) 246-7677 Edison Properties unveils plan FAX: EDITORIAL (732) 846-0421 Prism taps C&W to FAX: ADVERTISING (732) 249-8952 market at Roche campus FAX: OPERATIONS (732) 846-0421 for downtown Newark property SUBSCRIPTIONS (866) 288-7699 Prism Capital Partners has REPRINTS For licensing, reprints, e-prints announced Cushman & Wake- and plaques, email reprints@journalmultimedia. dison Properties and members of its Got- field’s Robert Rudin, Bill Brown com. Authorization to photocopy articles for tesman family were joined by Newark May- and Josh Cohen will market the internal corporate or instructional use may be obtained from the Copyright Eor Ras Baraka last week at the unveiling of 116-acre former Hoffmann-La Clearance Center at (978) 750-8400. its redevelopment plan for the former Central Rail- Roche North American head- For photos, please see njbiz.com/photos road of New Jersey warehouse at 110 Edison Place quarters campus in Nutley and in the city. Clifton. ASSOCIATE PUBLISHER As part of the larger Mulberry Commons The team is currently mar- Thomas Hughes [email protected] project, Edison said, the plans include retail space keting two buildings, including BUSINESS OPERATIONS and the construction of loft and luxury office a 15-story, 300,000-square-foot DIRECTOR OF OPERATIONS space, as well as green space on the rooftop of the property and a 255,000-square- Christopher DeCellio [email protected] 456,000-square-foot warehouse. foot facility. A number of DIRECTOR OF PRODUCT DEVELOPMENT “It warms my heart to be able to leave here and development sites are also being Tom Bergeron [email protected] go to City Hall and say that we did this today, with offered as build-to-suit opportu- Officials enjoy the symbolic start of work on the Ironside Newark BUSINESS MANAGER your help, with (Jerry Gottesman’s) assistance,” project. - MARIO MARROQUIN nities at the campus. AnnMarie Karczmit [email protected] Baraka said. “That this is happening here in the Bloomfield-based Prism ADVERTISING city of Newark and much more development will berry Commons, after a two-story atrium is creat- will rebrand the campus as ON3. SENIOR ACCOUNT EXECUTIVE happen as a result.” ed, allowing for access to the city’s park, for those “We are incredibly excited Penelope Spencer [email protected] The project, Ironside Newark, is one of the traveling on foot from Newark Penn Station.” to be involved in ON3, which is ACCOUNT EXECUTIVES components of the larger Mulberry Commons Edison Properties thanked the city for help- arguably the most robust project Susan Alexander [email protected] project at the foot of the Prudential Center. Edison ing — and providing a 30-year payment in lieu of in our region’s development Liz Dwyer [email protected] Properties’ executive vice president of develop- taxes, or PILOT, agreement — to make the $80 mil- pipeline,” Rudin said. Kirsten Rasky [email protected] ment, Michael Sommer, said the company will lion project possible. The ON3 campus was Damon Riccio [email protected] work alongside Newmark Grubb Knight Frank “Newark is undergoing a renaissance, and it purchased by Prism Capital’s Frank Scancarella [email protected] and JLL to market the spaces. is no coincidence,” Sommer said. “Every success- affiliate PB Nutclif I LLC last fall. Joanne White [email protected] “Ironside will ultimately be comprised of ful venture requires qualified leadership at the top, Prior to the sale, Hackensack Barry Young [email protected] seven floors, with a glass-enclosed penthouse of- whether we’re talking about a team, a company or, Meridian Health and Seton MARKETING MANAGER fice on the roof,” he said. “Both 360-degree views in this case, New Jersey’s largest city. The current Hall University committed to Ali Brush [email protected] of downtown Newark and Manhattan. Floors two leadership is certainly no exception. Several of the leasing at the campus, which will through seven will include loft-style offices with council members have been in office since the ini- be home to the two organiza- EDITORIAL exposed ceilings. The second floor and the first tial planning of this project. And with the mayor’s tions’ medical school. — Mario EDITOR floor will have park and street-level retail to serve leadership and diligence, we all find ourselves cel- Marroquin Tom Bergeron [email protected] this building and the downtown area. From the ebrating this great day in the history of the city.” — MANAGING EDITOR north, Ironside will serve as the entryway to Mul- Mario Marroquin Eric Strauss [email protected] JLL to market DEPUTY MANAGING EDITOR One Newark Center Anjalee Khemlani [email protected] Health Care A joint venture between an affiliate of the Praedium Group WEB EDITOR/SOCIAL MEDIA COORDINATOR Lupin opens manufacturing facility in Somerset and Mack-Cali Realty Corp. has Emily Bader [email protected] umbai-based pharmaceutical manufac- announced it selected JLL to STAFF WRITERS Meg Fry [email protected] turer Lupin recently hosted U.S. Rep. market One Newark Center in Food and Beverage/Women in Business/ Bonnie Watson Coleman and Indian the heart of Newark. Manufacturing/Retail M Consul General to the United States Riva Ganguly JLL will provide all services Andrew George [email protected] Das at the ribbon-cutting ceremony of its first U.S. for the 423,028-square-foot Class State House correspondent manufacturing facility, in Somerset. A space located on Raymond Brett Johnson [email protected] Spotlight “This expansion was a tenfold expansion in Boulevard just one block from Mario Marroquin [email protected] capacity at the Somerset site and was part of a plan Military Park and one block from Real Estate to meet the demand for affordable medicine in the Newark Penn Station. CHIEF PHOTOGRAPHER U.S.,” Vinita Gupta, CEO of Lupin, said. “We are as a “The transit-oriented desti- Aaron Houston [email protected] company are very committed to meet the need; es- nation is leveraging its unparal- RESEARCHER pecially today, there is a big need to bring affordable leled infrastructure to attract a Jessica Perry [email protected] medicines to the U.S. markets for patients, provid- Executives and officials cut the ribbon on Lupin’s Somerset tenant pool that’s broader than ers, government and other stakeholders.” manufacturing facility. - PHOTO COURTESY LUPIN traditional law firms and back-of- EVENTS The pharmaceutical firm will manufac- fice operations,” Thomas Walsh, EVENTS DIRECTOR ture generic and branded products out of its hold with our Somerset manufacturing facility,” Gup- managing director of JLL’s New Wendy Berg [email protected] 150,000-square-foot facility. The firm shipped its ta said. “We’ve been able to enter areas like controlled Jersey office, said. “It seems that EVENTS COORDINATOR first product from Somerset in January of this year. substances and women’s health specialty. And, most every week Newark has a ribbon- Anna Acquaviva [email protected] The firm has added 80 jobs to support its operations importantly, we’ve been able to bring a skilled team cutting for a multifamily develop- and expects to hire at least 50 more employees. of (research and development) and manufacturing ment or new retailer — Mario “We have gained a strong manufacturing foot- experts into our organization.” — Mario Marroquin Marroquin NJBIZ (ISSN 1540-4161) is published weekly, except for year-end and one extra issue in December by BridgeTower Media, 1500 Paxton St., Harrisburg, PA 17104-2633.
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