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CoreWeave Signs Long-Term Lease With Onyx Equities And Machine Investment Group For Data Center In Kenilworth
LEASED
New Jersey
See Similar DealsLife Sciences280,000 SF
Leased 10/28/2024
LEASED
CoreWeave Signs Long-Term Lease With Onyx Equities And Machine Investment Group For Data Center In Kenilworth
2000 Galloping Hill Road
See Similar DealsLife Sciences280,000 SF
Leased 10/28/2024
Summary
NEW JERSEY
Asset Type:Life Sciences
Price Per Square Foot:$0
Total Square Footage:280,000 SF
Transaction Type:Lease
The property asset involved in the transaction is located at 2000 Galloping Hill Road in Kenilworth, New Jersey. The asset type is designated for Life Sciences, encompassing a total area of 280,000 square feet.
Summary of transaction details:
- Property Type: Life Sciences
- Transaction Amount: $1.2 billion
- Lease Signed: CoreWeave
- Landlord Representatives: John Saraceno - Onyx Equities, Eric Rosenthal - Machine Investment Group
- Tenant Representative: Michael Intrator - CoreWeave
- Investment in Project: Over $50 million
- Project Location: Northeast Science & Technology Center
This lease agreement involves a long-term commitment from CoreWeave to establish a data center as part of an Onyx-led venture. The collaboration aims to enhance New Jersey's role in artificial intelligence and innovation through this significant investment.
Details
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$16,049,431.04
Total Lease Value
$160,494,310.36
Net Landlord Cash Flow$16,049,431.04
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