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3200 Commerce Parkway

DifGen Pharmaceuticals And Aveva Drug Delivery Systems Lease 166794 SF Office At 3200 Commerce Parkway
LEASEDOffice

DifGen Pharmaceuticals And Aveva Drug Delivery Systems Lease 166794 SF Office At 3200 Commerce Parkway

3200 Commerce Parkway

Building Size

166,794 SF

Asset Type

Office

Closing

Feb 10, 2025

AI

The property asset involved in this transaction is located at 3200 Commerce Parkway in the Miramar market. It features an office space totaling 166,794 square feet. The landlord for this property is Sunbeam Properties & Development.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 3200 Commerce Parkway
  • Market: Miramar
  • Landlord: Sunbeam Properties & Development
  • Tenant: Caspar Herzberg - Aveva Drug Delivery Systems; Ramandeep Singh Jaj & Dr. Santhanakrishnan Srinivasan - DifGen Pharmaceuticals
  • Brokers: Peter Apol & Ryan Goggins - Sunbeam Properties

DifGen Pharmaceuticals has relocated its corporate headquarters from Princeton, N.J., to the mentioned address following its acquisition of Aveva Drug Delivery Systems in 2023. The new occupancy now spans three locations with a combined area of 166,794 square feet, handled by the representatives from Sunbeam Properties & Development.

Players

Peter Apol

Sunbeam Properties

Broker

2 deals

Broker

Miramar Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93