Accurant Biotech Expands To 26,566 SF Office Space At 500 College Road East In Princeton With 10-Year Lease
500 College Rd E Princeton, NJ 08540, USA
$27
$27/SF
Building Size
26,566 SF
Asset Type
Office
Closing
May 30, 2023
AI
Bergman Real Estate Group facilitated a 10-year lease for Accurant Biotech, a life sciences company, securing 26,566 square feet of office space at 500 College Road East in Princeton. The office space was leased at an asking rent of $27.50 per square foot. The move represents Accurant Biotech's expansion from its current East Windsor location. The choice to lease this space was influenced by the building's amenities, recent capital improvements, and the appeal of a Princeton address.
Summary of transation details
- Property Type: Office
- Transaction Amount: Not provided
- Address: 500 College Road East, Princeton
- Market: Princeton
The lease was facilitated by Bergman Real Estate Group, represented by Michael Bergman and Hornig Capital Partners. Accurant Biotech was represented by Vinny DiMeglio and Erin Moran of JLL. The lease terms are for a duration of 10 years.
Players
New Jersey 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
587518.52%
Cash-on-Cash
-167914.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93