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
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