facebook

traded

+ Submit
Home

/

Deals

/

New Jersey

/

Office

/

Lease

/

500 College Rd E Princeton,...

Accurant Biotech Expands To 26,566 SF Office Space At 500 College Road East In Princeton With 10-Year Lease
LEASEDOffice

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

Vinny DiMeglio

JLL

Broker

4 deals

Broker
HP
Hornig Capital PartnersLandlord

New Jersey Office Market Snapshot

Boundary boundary · Office · Lease transactions

Loading comparables…

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