{"id":40501,"date":"2024-11-04T07:55:54","date_gmt":"2024-11-04T04:55:54","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=40501"},"modified":"2025-03-25T16:07:52","modified_gmt":"2025-03-25T13:07:52","slug":"coreweave-leases-kenilworth-lab-space-for-data-center-conversion","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/coreweave-leases-kenilworth-lab-space-for-data-center-conversion\/","title":{"rendered":"CoreWeave Leases Kenilworth Lab Space for Data Center Conversion"},"content":{"rendered":"

Roseland, N.J.-based cloud-computing startup CoreWeave recently signed a long-term lease at the Northeast Science & Technology (NEST) Center in Kenilworth, N.J. The lease includes the entirety of the 11 NEST building. Formerly a lab and manufacturing property, it will be converted into a state-of-the-art data center.<\/p>\n

In 2023,\u00a0CoreWeave more than quadrupled its data center footprint and is reportedly on track to own 28 data centers globally by the end of this year. The Kenilworth facility will be CoreWeave\u2019s first in New Jersey.<\/p>\n

\u201cCoreWeave\u2019s commitment to invest over a billion dollars at the NEST campus demonstrates New Jersey\u2019s leading role in artificial intelligence, and our innovation strategies are working,\u201d said New Jersey Governor, Phil Murphy. \u201cThrough collaboration with utilities, government, investors, and real estate developers, we\u2019re committed to attracting businesses that will build an innovation economy for the future. Thanks to PSE&G, Mayor Linda Karlovitch, the development team at Onyx Equities, Machine Investment Group, and CoreWeave, this new data center will further fuel our state\u2019s leadership in innovation.\u201d<\/p>\n

The agreement includes a joint effort for the conversion of the 280,000-square-foot property. Specifically, CoreWeave announced plans to invest $1.2 billion. The property owner \u2014 a joint venture between Onyx Equities and Machine Investment Group<\/a> \u2014 expects to contribute more than $50 million to the project.<\/p>\n

Additionally, PSE&G \u2014 New Jersey\u2019s\u00a0oldest and largest utility that currently serves more than 30 large data centers \u2014 will be preparing the area\u2019s electrical infrastructure to support the energy needs of the future data center facility in Kenilworth.<\/p>\n

\u201cWe are incredibly excited to open a next-generation data center in CoreWeave\u2019s home state of New Jersey,\u201d said CoreWeave CEO and Co-Founder, Michael Intrator. \u201cGovernor Phil Murphy\u2019s efforts have helped spur the creation of an AI ecosystem in the state, and CoreWeave\u2019s announcement today underscores that New Jersey is open for AI business.\u201d<\/p>\n

11 NEST is part of the 2-million-square-foot campus that\u2019s being redeveloped to serve as a hub for life sciences innovation and data centers. Spanning more than 100 acres, the development looks to meet the need for immediately available, turnkey, and customizable office, laboratory, and biomanufacturing space in the tri-state area. Work began in early 2023 to transform what was previously the global headquarters of Merck into a state-of-the-art hub of research and innovation for the Northeast region.<\/p>\n

\u201cThis partnership positions the NEST campus as a major hub for data processing, AI, and biopharma innovation,\u201d said John Saraceno, co-founder and managing principal for Onyx Equities. \u201cCoreWeave will be a key cornerstone of NEST as life science and biotechnology tenants at the campus will benefit from CoreWeave\u2019s advanced cloud infrastructure to support their AI-driven projects and boost research and development capabilities.\u201d<\/p>\n

Looking for industrial space for rent\u00a0<\/a><\/em>in New Jersey <\/em><\/a>or other popular markets? Visit the CommercialCafe.com<\/a>\u00a0homepage to start your search!<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

CoreWeave, with assistance from the property owner and the local electricity utility, will work to transform the 11NEST building at the Northeast Science & Technology Center in Kenilworth, N.J., into a state-of-the-art data center facility to support the innovative biotech community in the region. <\/p>\n","protected":false},"author":48,"featured_media":40502,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[37,4014,41],"tags":[],"class_list":["post-40501","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-featured","category-industrial","wpautop"],"acf":[],"yoast_head":"\nCoreWeave Inks Lease for 1st NJ Data Center | CommercialCafe<\/title>\n<meta name=\"description\" content=\"CoreWeave inked a lease for a full building in the Northeast Science & Technology 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