Merck Announces Sale of Campus in Kenilworth, N.J., to Onyx Equities, LLC
February 16, 2023 3:00 pm ET
RAHWAY, N.J., Feb.16, 2023 – Merck (NYSE: MRK), known as MSD outside of the United States and Canada, announced today that it has reached an agreement to sell its 108-acre campus in Kenilworth, N.J., to Onyx Equities, LLC.
Merck will vacate the property in phases over the next several years while its new headquarters in Rahway, N.J. completes a planned expansion. As the birthplace of the company in the U.S., the Rahway campus has seen the start of many of Merck’s greatest scientific breakthroughs. Over its 120-year legacy, the site has grown from one manufacturing plant to more than 200 acres focused on discovery and development
“I would like to thank everyone involved for doing their due diligence and exploring all possible options to achieve this goal regarding the sale of the Merck property. I was happy to work with Merck during this process and I am pleased that a qualified and suitable buyer was chosen. I believe this will secure the future of Kenilworth ensuring equity and stability for our borough. Kenilworth looks forward to welcoming and working with the new buyers of the property,” said Linda Karlovitch, Mayor of Kenilworth.
“This collaboration is an incredible opportunity to help reimagine the hub of life sciences while also continuing Merck’s strong history and legacy of serving patients and communities,” said Shefali Shah, Global Real Estate Lead, Merck. “We believe Onyx Equities, LLC will foster long-term value, economic growth and sustainability within the community. We look forward to collaborating with Onyx Equities, LLC and their team members on a smooth transition.”
Merck was represented in the transaction by Dan Loughlin from JLL.
At Merck, known as MSD outside of the United States and Canada, we are unified around our purpose: We use the power of leading-edge science to save and improve lives around the world. For more than 130 years, we have brought hope to humanity through the development of important medicines and vaccines. We aspire to be the premier research-intensive biopharmaceutical company in the world – and today, we are at the forefront of research to deliver innovative health solutions that advance the prevention and treatment of diseases in people and animals. We foster a diverse and inclusive global workforce and operate responsibly every day to enable a safe, sustainable and healthy future for all people and communities. For more information, visit www.merck.com and connect with us on Twitter, Facebook, Instagram, YouTube and LinkedIn.
About Onyx Equities, LLC
Headquartered in Woodbridge, New Jersey, Onyx Equities, LLC is a leading, full-service real estate firm specializing in investment, asset repositioning and ground-up development. Since its founding in 2004, Onyx has acquired more than $2.3B worth of real estate assets throughout New Jersey, New York, Pennsylvania, and Connecticut, and has executed over $350M in capital improvement projects under its signature repositioning program. Driving Onyx’s success is its deep understanding of the development process and core geographic markets, a seasoned team of expertise in all facets of real estate, and its adaptability to market conditions and the experience gained from managing over 65 MSF since inception. Throughout its esteemed portfolio of properties, Onyx takes aim at increasing operational efficiency, tenant satisfaction and long-term value to create dynamic commercial, residential and mixed-use environments of the highest quality. For more information about Onyx Equities, visit www.OnyxEquities.com.
Forward-Looking Statement of Merck & Co., Inc., Rahway, N.J., USA
This news release of Merck & Co., Inc., Rahway, N.J., USA (the “company”) includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based upon the current beliefs and expectations of the company’s management and are subject to significant risks and uncertainties. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.
Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of the global outbreak of novel coronavirus disease (COVID-19); the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the company’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the company’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions.
The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the company’s Annual Report on Form 10-K for the year ended December 31, 2021 and the company’s other filings with the Securities and Exchange Commission (SEC) available at the SEC’s Internet site (www.sec.gov).