Michael Intrator Of CoreWeave Acquires Kenilworth Mixed-Use Campus From Jonathan Schultz & John Saraceno Jr. For $322M
2000 Galloping Hill Road
$322,000,000
$161/SF
Building Size
2,000,000 SF
Asset Type
Mixed-use
Closing
Jul 29, 2025
AI
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
Kenilworth Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93