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Michael Intrator Of CoreWeave Acquires Kenilworth Mixed-Use Campus From Jonathan Schultz & John Saraceno Jr. For $322M

Property Image
SOLD
$322,000,000
Jonathan Schultz
JJ

New Jersey

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Mixed-use2,000,000 SF
Sold 07/29/2025
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Property Image
SOLD

Michael Intrator Of CoreWeave Acquires Kenilworth Mixed-Use Campus From Jonathan Schultz & John Saraceno Jr. For $322M

2000 Galloping Hill Road

See Similar Deals
Mixed-use2,000,000 SF
Sold 07/29/2025
Jonathan Schultz
JJ
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:Mixed-use
Price Per Square Foot:$161
Total Square Footage:2,000,000 SF
Transaction Type:Sale

A mixed-use property located at 2000 Galloping Hill Road in Kenilworth has been sold for $322,000,000. The asset covers 107 acres and has a total square footage of 2,000,000, resulting in a price per square foot of $161.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $322,000,000
  • Buyer: Michael Intrator - CoreWeave
  • Seller: Jonathan Schultz & John Saraceno Jr. - Onyx Equities
  • Date of Sale: 07/29/2025
  • Market: Kenilworth
  • Square Footage: 2,000,000
  • Price per Square Foot: $161
  • Acres: 107

CoreWeave, under the leadership of Michael Intrator, aims to transform the campus into a biotech hub and data center. The company has secured leasing for part of the property as part of a $1.2 billion data center project, with intentions to convert existing structures into AI-focused infrastructure.

Players

Jonathan Schultz
Onyx Equities
Jonathan Schultz
2 deals$322M volume
SELLER
JJ
Onyx Equities
John Saraceno, Jr.
3 deals$366M volume
SELLER
Onyx Equities
Onyx Equities
SELLER

Details

SOLD
IMAGE: Michael Intrator, Jonathan Schultz & John Saraceno Jr. DATE: 07/29/2025 ADDRESS: 2000 Galloping Hill Road MARKET: Kenilworth ASSET TYPE: Mixed-use ~ ACRES: 107 BUYER: Michael Intrator - CoreWeave SELLER: Jonathan Schultz (@StreetSchultz) & John Saraceno Jr. - Onyx Equities SALE PRICE: $322,000,000 SF: 2,000,000 ~ PPSF: $161 NOTE: CoreWeave paid $322M for a 2M sq ft campus in Kenilworth, NJ, previously acquired for $187.5M in 2023, with plans to develop it into a biotech hub and data center. The company has leased part of the property for a $1.2B data center project, aiming to convert existing buildings into AI-focused infrastructure.

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