Kardigan Brings $300M Momentum to Princeton as Office Leasing Surge Continues Across New JerseyExplore the evolving office landscape as biotech, behavioral health, law, and local business power new growth in the Garden State.
New Jersey’s commercial office market is buzzing with energy again—high-profile expansions, major lease signings, and strategic relocations are reshaping the state’s business landscape from Princeton to Parsippany. And at the heart of it all is a clear trend: companies across sectors are doubling down on location, flexibility, and next-gen workspaces.
The most headline-grabbing move of the season? Biopharmaceutical rising star Kardigan is planting roots in Princeton after securing a massive $300 million Series A funding round—a move signaling confidence not just in New Jersey’s innovation ecosystem but in its future as a biotech and life sciences powerhouse.
💼 Kardigan Sets Up at 506 Carnegie Center, Princeton
Kardigan, a fast-emerging heart health biotech founded in 2023, just signed a 21,489-square-foot lease at 506 Carnegie Center—a top-tier Class A office complex owned by Boston Properties. The move is a major step for the company, co-founded by Tassos Gianakakos, Jay Edelberg, and Robert McDowell, who previously sold their company MyoKardia to Bristol Myers Squibb for $13.1 billion.
Now they’re bringing that same energy—and funding—to the Garden State.
“Opening our first East Coast location in the heart of New Jersey’s broader life sciences hub is an important milestone,” Gianakakos shared, citing access to top-tier talent and proximity to research and clinical infrastructure as key drivers.
JLL led the charge for the deal, with Senior VP Vinny DiMeglio representing Kardigan and Kimberly Smith from JLL’s Workplace Strategy team guiding the site selection. With its high-end buildout and strategic location, 506 Carnegie Center gives Kardigan room to grow while staying connected to Princeton’s research core.
For more insights into the region’s business ecosystem and commercial real estate activity, visit our Explore New Jersey Business hub.
🧠 Devereux Behavioral Health Finds Ideal Fit in Somerset
Also making moves is Devereux Advanced Behavioral Health, which inked a lease for 4,816 square feet at 399 Campus Drive in Somerset. The recently upgraded property—once Liberty Mutual’s regional HQ—is adjacent to I-287 and Route 22, offering optimal accessibility.
The building’s fresh upgrades (new HVAC, refreshed common areas, and natural light galore) create a welcoming setting for an organization whose mission is rooted in care and wellness. Represented by Sheldon Gross Realty, Devereux is part of a growing tenant mix that includes healthcare, tech, and legal firms.
Founded in 1912, Devereux is one of the largest nonprofit behavioral health providers in the U.S., making this move a meaningful addition to Central Jersey’s care and mental health infrastructure.
⚖️ Freehold Law Firm Embraces the Future at Monmouth Executive Center
In Freehold, Davison Eastman Muñoz Paone PA is preparing for its next chapter. The well-established law firm signed a 13,500-square-foot lease at 3 Paragon Way, a key part of the Monmouth Executive Center.
Relocating from 100 Willow Brook Road, the firm tapped JLL once again to secure a newly built-out office environment that aligns with its growth and modernization goals. Managing Principal Jim Paone cited JLL’s insight and responsiveness in helping secure the forward-thinking space—two years ahead of the firm’s current lease expiration.
The new office includes upgraded amenities such as a tenant café, fitness center, and flexible conference space, all while keeping the firm close to Freehold Raceway Mall and the town’s downtown corridor.
🏢 Smaller Footprints, Big Impact: Resource Realty Closes Trio of Deals
While headline leases grab attention, New Jersey’s real estate momentum is also being driven by small and midsize businesses making strategic moves.
Resource Realty of Northern New Jersey recently completed three key office transactions, showcasing continued demand across Somerset and Morris Counties:
- 233 Mount Airy Road, Basking Ridge: Engineering firm Hannington Engineering relocates to a 66,000-square-foot Class A building with immediate I-287 access.
- 321 Palmer Road, Denville: Pest management company Viking Pest Control signs a 2,150-square-foot lease, a nod to the strength of local demand for functional space.
- 601 Jefferson Road, Parsippany: Home care provider Gold Home Care extends its lease at a two-story office condo, reinforcing commitment to its existing location.
“These transactions highlight the consistent need for high-accessibility, right-sized office environments,” said Greg Sabato of Resource Realty. “From law firms to healthcare to home services, businesses are future-proofing while staying close to clients and talent.”
📈 The Big Picture: Business is Booming in the Garden State
From life sciences in Princeton to legal expertise in Freehold, and behavioral health in Somerset to essential services in Denville—New Jersey’s commercial real estate landscape is experiencing a renaissance driven by forward-thinking business strategies and real estate partners who understand how to align workspaces with mission, culture, and growth.
Whether it’s biotech labs, law firm HQs, or consulting suites, one thing’s clear: the Garden State is open for business.
👉 For more updates on corporate expansions, commercial leases, and business development across New Jersey, check out our full Business section.
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