Yet Another Effort To Repurpose The White Elephant HQ In Kenilworth Gets Underway... "Old Fast Fred"... [Legacy SGP]

As Fred Hassan was ushered off-stage, about 13 years ago -- it became clear that Kenilworth would never be bought by another major pharma player -- as a whole. [It was over two million square feet, after all.] So the proposal was to split it up and create "R&D incubators" -- but that never got off the ground. So "New Merck" moved back in. Then last year, HQ was moved. . . W A Y back -- to Rahway, under Mr. Davis. [That's a 1960s throwback move, BTW.]

And so, once again, Onyx and another firm are being tasked with trying to turn Kenilworth into small incubators of R&D, leased to independents. . . over time. Same old. . . same old. Here's the story -- from 13 years ago, now -- from first time around, at legacy Schering-Plough:

. . .Anonymous said. . .

The way it was explained to us (1 of the 580 being let go) They are closing every building on site, except one research building that they are dumping the $120 million into, and selling off the rest of the space. The size of the site will be about 1/4 what it is now. Fred's old office building will be gone by 2013; a few other buildings are already vacant. That nj.com story makes this seem like a good thing.

January 7, 2011 3:06 PM. . . .

I'd expect about the same level of. . . non-success, this time around -- in all honesty. The real estate needs of big companies are smaller, now -- post COVID, and pro- tele-work. Smile -- happy V-day, to all. . . .

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