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Revlon Expands Operations With Lease At 2000 Galloping Hill Road Kenilworth For 62000 SF
LEASED
New Jersey
See Similar DealsLife Sciences62,000 SF
Leased 11/19/2024
LEASED
Revlon Expands Operations With Lease At 2000 Galloping Hill Road Kenilworth For 62000 SF
2000 Galloping Hill Road
See Similar DealsLife Sciences62,000 SF
Leased 11/19/2024
Summary
NEW JERSEY
Asset Type:Life Sciences
Price Per Square Foot:$0
Total Square Footage:62,000 SF
Transaction Type:Lease
The property asset involved in the transaction is a 62,000-square-foot life sciences space located at 2000 Galloping Hill Road, known as the NEST Center, in the market of Kenilworth. This property was formerly the headquarters of Merck.
Summary of transaction details:
- Property Type: Life Sciences
- Transaction Amount: Not disclosed
- Address: 2000 Galloping Hill Road (15 NEST)
- Market: Kenilworth
- Landlord: Matthew Flath - Onyx Equities; Machine Investment Group; Pivot Real Estate Partners
- Tenant: Revlon
- Landlord's Representative: JLL
- Tenant's Representative: Newmark
The deal involves Revlon's strategic relocation of its New Jersey-based R&D lab to this newly leased space, enhancing its innovation capabilities. JLL represented the landlord while Newmark represented Revlon in this transaction.
Details
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$3,553,802.59
Total Lease Value
$35,538,025.87
Net Landlord Cash Flow$3,553,802.59
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