95 Greene, Jersey City NJ

Challenge

Thor Equities turned to Torque to develop a property brand and marketing program for their unique lab R&D life sciences, healthcare, and technology development. The property is located in the heart of Jersey City’s Paulus Hook neighborhood. The project is a bold adaptive reuse development of a century-old Palmolive manufacturing building pioneering a submarket just across the Hudson River from Manhattan and the traditional life science cluster. Thor needed Torque to support the CBRE agency leasing team to validate and generate awareness and interest in this new area.

Solution

Torque worked with the development and also the leasing team to define the priorities, including the advantage of speed to market with wet lab space in a constrained environment, and the local area amenities attractive to younger scientist talent that would be going to work for tenant companies.

We also focused or property story and message on access and transit, NJ life science cluster resources, and lower cost of living just outside of Manhattan, as well as dialing in on flexibility of addressing the needs of drug companies at key stages of development, from a few people with one hood, to hyper scaling size.

Marketing initiatives include: property story development, message, mobile website video, renderings, social media marketing campaign, digital advertising, tour strategy and leasing broker selling tools and gifts.

Result

The result has been ahead-of-schedule leasing of several units that has helped validate the property for larger life sciences tenants. The property represents the first of future development for Thor in the submarket, and a marketing model for other life sciences development projects in other markets in the country.

The brokers landed two tenants in the first 60 days of the marketing program and has seen a considerable boost in tours. Along with strong visibility of the property within the NJ life sciences industry, the leasing team regularly relays positive feedback from prospective tenants thanks to clarity and focus of the marketing message and property story. The digital marketing program is ongoing.