Prism Capital Partners announced Thursday that Panera Bread is the latest national brand to sign a lease at ON3, the award-winning 116-acre mixed-use campus. The 3,500-square-foot bakery-café will feature drive-thru service and occupy a prominent pad site located just off Route 3.
The addition of Panera Bread further solidifies the retail ecosystem at the former Hoffmann-La Roche headquarters. It joins a growing roster of convenience-oriented tenants, including Starbucks (opened in 2024), as well as Chipotle and Chase Bank, both of which are currently under construction.
The new restaurant will be easily accessible via new campus ingress and egress lanes that are nearing completion. Prism Construction Services is set to manage the turnkey development of the standalone building, with construction scheduled to break ground in early April.
“The Panera Bread lease advances our goal to curate a well-balanced mix that serves the surrounding community and complements our campus’ live-work-play lifestyle,” Ed Cohen, principal partner at Prism Capital Partners said. “ON3’s retail component is well underway, and we look forward to finalizing more additions in the near-term.”
Since acquiring the site in 2016, Prism Capital Partners has transformed the Clifton/Nutley complex into New Jersey’s largest redevelopment project. The campus has become a world-class hub for research, education, and wellness, currently housing:
- Hackensack Meridian Health: Including the School of Medicine and the Center for Discovery and Innovation.
- Corporate Giants: Eisai Inc., Quest Diagnostics, and The Ralph Lauren Corporation.
- Academic Institutions: Seton Hall University’s Graduate College of Nursing and School of Health and Medical Sciences.
The lease agreement was facilitated by RIPCO Real Estate, representing Prism Capital Partners, while Newmark served as the tenant broker for Panera Bread.
With 1.55 million square feet of office and lab space already fully occupied and another 2 million square feet of development planned, the arrival of Panera Bread underscores the increasing demand for high-quality amenities to support the thousands of professionals and students who frequent the campus daily.
