LEASEDOffice
Galapagos Leases 15,000 SF Office Space At Princeton Point From Nuveen Real Estate
600 College Road East
Building Size
15,000 SF
Asset Type
Office
Closing
Jun 11, 2024
AI
Galapagos, an international biotechnology company, has secured a 15,000-square-foot lease at Princeton Point, a complex in Princeton encompassing office and life sciences spaces at 600 and 650 College Road E.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not provided
- Address: 600 & 650 College Road East
- Market: Princeton
- Landlord: Mike Sales - Nuveen Real Estate
- Tenant: Galapagos
- Landlord's Rep: Kevin Carton & Todd Elfand - Cushman & Wakefield
- Tenant's Rep: CBRE
The lease negotiation was handled by Cushman & Wakefield on behalf of landlord Nuveen Real Estate, with CBRE representing Galapagos in the transaction.
Players
Princeton 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93