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Clinical testing company expands Elmwood Park research space
October 16, 2013
Original Article

A clinical testing company and one of the largest employers in Bergen County has expanded its research and development and laboratory space at 41 Slater Drive by 140,000 square feet.

Bio-Reference Laboratories now occupies the entire 180,000-square-foot building owned by Prism Capital Partners and the Davis Companies, Prism announced Tuesday.

Bio-Reference also has its headquarters in Elmwood Park, at 481 Edward H. Ross Drive, to the east of the Slater property.

"Bio-Reference Laboratories is one of New Jersey's fastest-growing companies and the largest occupier of space in Elmwood Park—even without this location," Edwin Cohen, a principal partner with Bloomfield-based Prism, said in a statement. "This strategic move increases the firm's local presence substantially, and we are pleased to accomodate its immediate and future requirements."

Prism and Davis acquired 41 Slater Drive in 2012. The building sits on 11 acres at the intersection of I-80 and River Road.

The owners plan to to improve the building's exterior, including parking lot and landscaping upgrades.

Bio-Reference has continued to grow this year. The company reported third-quarter revenues of $185,427, the highest for a quarter in corporate history.

In August, Bio-Reference acquired most of the assets of Hunter Laboratories in California. The purchase gives the company a presence in the western market, the company said.