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1041 Us-202, Bridgewater To...

Thor Equities Leases 101500 Square Feet At 1041 Us-202 Bridgewater Township Through Daniel Loughlin
LEASEDOffice

Thor Equities Leases 101500 Square Feet At 1041 Us-202 Bridgewater Township Through Daniel Loughlin

1041 Us-202, Bridgewater Township...

Building Size

101,500 SF

Asset Type

Office

Closing

Nov 19, 2023

AI

The property asset involved in the transaction is an office space located at 1041 Us-202, Bridgewater Township, within the Scituate market. The lease encompasses an area of 101,500 square feet in The New Jersey Center of Excellence, which is part of an 800,000-square-foot life sciences and laboratory office complex. The center offers amenities such as a cafeteria, fitness center, and conference center, making it conducive for business operations.

Summary of transaction details:

  • Property Type: Office lease
  • Transaction Amount: Not specified
  • Square Feet: 101,500
  • Address: 1041 Us-202, Bridgewater Township
  • Market: Scituate
  • Landlord: Thor Equities
  • Landlord's Representative: Daniel Loughlin - JLL
  • Tenant: PTC Therapeutics

Daniel Loughlin from JLL represented the landlord, Thor Equities, during the lease negotiations. PTC Therapeutics has committed to a long-term lease, securing three floors within the complex, which also houses other tenants such as Kashiv Pharma LLC, Nestlé Health Science, and Ashland Global.

Players

Daniel Loughlin

JLL

Broker

$118.5M

vol

4 deals

Broker
Thor Equities
Thor EquitiesLandlord

Scituate 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