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1041 Us-202, Bridgewater To...

Updated Oct 29, 2024

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

About this deal

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

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