Roseland, NJ-based CoreWeave has signed a long term lease with an Onyx Equities and Machine Investment Group partnership for the entirety of building 11 NEST at The Northeast Science & Technology (NEST) Center in Kenilworth, NJ. Plans call for converting the 280,000-square-foot former lab and manufacturing building into data center.

CoreWeave plans to invest $1.2 billion, and the Onyx Equities-led venture expects to spend more than $50 million on the project. It will become CoreWeave’s first data center in New Jersey.

“This partnership positions the NEST campus as a major hub for data processing, AI, and biopharma innovation,” said John Saraceno, co-founder and managing principal for Onyx Equities. “CoreWeave will be a key cornerstone of NEST, as life science and biotechnology tenants at the campus will benefit from CoreWeave’s advanced cloud infrastructure to support their AI-driven projects and boost research and development capabilities.”

11 NEST is part of the two-million-square-foot NEST campus, formerly the global headquarters of Merck. Ownership acquired the campus in February 2023.