Nuveen Real Estate Leases Over 49,200 Square Feet To Trac Intermodal SiriusXM And USA Formulations
600 College Road East & 650 College Road East
Building Size
98,400 SF
Asset Type
Office
Closing
Mar 23, 2026
AI
The property asset involved in this lease transaction comprises office space totaling 49,200 square feet, located at 600 & 650 College Road in Princeton. The market is identified as Princeton, with Nuveen Real Estate serving as the landlord for this asset.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Landlord: Nuveen Real Estate
- Tenant: Trac Intermodal, SiriusXM & USA Formulations
- Broker: Todd Elfand & Kevin Carton - Cushman & Wakefield
This lease agreement reflects a significant commitment from tenants, with Trac Intermodal leasing 31,000 square feet, SiriusXM taking 14,500 square feet, and USA Formulations utilizing 3,700 square feet. The representation of the landlord by brokers Todd Elfand and Kevin Carton from Cushman & Wakefield underscores the demand for well-appointed office environments.
Players
Princeton 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93