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
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