Spectra Labs
CBRE U.S. Healthcare and Life Sciences Capital Markets is pleased to announce the sale of Spectra Labs (the “Property”) located in Rockleigh, New Jersey, to Big Sky Medical. Lee Asher, Jordan Selbiger, Cole Reethof, Josiah Gunter and Zack Holderman partnered with Jeremy Neuer and Jeffrey Dunne in the New Jersey market to act as the exclusive advisors to the Seller, Spruce Healthcare Group.
Spectra Labs is a 204,495 square foot mission critical office/life science facility that is 100% leased to Spectra Laboratories. The facility is 54% comprised of lab space which serves as a testing facility for the Eastern half of the United States.
The Property was substantially redeveloped between 2013-2015 with $49.7 million of capital improvements, of which $42.2 million was invested by the Tenant, to outfit the building for their specialized use. Improvements included exterior facade and site work, modernization and installation of new mechanical systems and infrastructure, state-of-the-art lab and testing facilities and fully redundant power. Located in New Jersey, Spectra Labs benefits from a pipeline of labor talent within a state with the highest concentration of scientist and engineers in the world.
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