Find Lab Space for Rent in New Jersey
Did you know that 14 of the world’s 20 biggest pharmaceutical companies are headquartered in New Jersey?
In addition, there is a large concentration of CROs (Contract Research Organizations) in New Jersey. Many reside in the central area of the state with close proximity to Princeton and Princeton University, the Ivy League school known as home to scientists and scholars. This area is extremely attractive to well-educated scientific professionals who are looking to further their research, nurture their work and establish new and successful labs and startups.
When looking for lab space for rent, there are unique requirements that need to be met, including the availability of additional electrical power, plumbing and air-conditioning, as well as special equipment that will need to be purchased and installed. Lab-users may require a completely open space or one easily divided into separate sections for different projects.
Before you begin your search for lab space for rent in Princeton, NJ there are a few questions that need to be answered to help narrow down your needs.
How much lab space do you need?
This is the most important question. You need to account for any private offices, cubicles, lounge space and lab area to get a good understanding of how big or small the space you are looking for should be. It’s also important to factor in how many people will be at work at the lab on a regular basis.
Do you prefer an empty lab space or one that comes with some furniture and equipment?
Some properties are available completely empty and ready for a tenant to come in and create the ultimate customized space for their unique needs. Others provide some furniture as well as lab equipment. It’s up to you to decide what your company needs and how that factors into your budget.
How long would you like to rent/lease the lab space?
Most spaces rent out for a minimum of five years. Do you need your lab space for more or less than that amount of time? All of this will factor into the lease agreement and can affect the price of the lab space for rent.
Do you have any additional needs or special requirements for your lab space?
It’s important to communicate if you have any restrictions or special needs for your lab space. This will help eliminate certain locations and narrow down the search.
What is your budget?
Current base rental rates for lab space for rent in Princeton, NJ can be as low as $21.50 per square foot NNN, and as high as $25 per square foot NNN. In some instances, the rental rate for specialized labs may be higher. The range of these rates is dependent on the condition of the space, the desirability of the location, the amenities provided, and the length of the lease term.
Science professionals establish companies that work hard to create the future, so it’s important that they locate the right lab space for rent where they can grow and conduct their business. Currently, there is a premium lab space available for rent in the Princeton area.
If you are ready to look for and secure the perfect lab space for your needs, please contact Jeanne Sabo Rothenberg, CCIM for more information and guidance on identifying and securing the perfect commercial property.