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600 College Road East Princ...

Dr. Reddy’s Laboratories And State Street Bank Sign Leases At Princeton Point, NJ
LEASEDOffice

Dr. Reddy’s Laboratories And State Street Bank Sign Leases At Princeton Point, NJ

600 College Road East Princeton, NJ 08540, USA

Building Size

116,000 SF

Asset Type

Office

Closing

Sep 6, 2023

AI

The property in question is an office space located at 600 College Road East in Princeton. It spans approximately 116,000 square feet and is owned by Jose Minaya of Nuveen Real Estate.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 600 College Road East
  • Market: Princeton
  • Tenant: Erez Israeli - Dr. Reddy’s Laboratories & State Street Bank
  • Landlord: Jose Minaya - Nuveen Real Estate
  • Landlord's Representative: Kevin Carton & Todd Elfand of Cushman & Wakefield
  • Tenant's Representative: Shawn Straka of Cushman & Wakefield

Cushman & Wakefield played a pivotal role in facilitating two leases at Princeton Point in New Jersey. One lease was signed by Dr. Reddy’s Laboratories for approximately 53,000 square feet, while State Street Bank renewed their existing lease for approximately 63,000 square feet. The landlord, Nuveen Real Estate, was represented by Kevin Carton and Todd Elfand of Cushman & Wakefield. Shawn Straka, also of Cushman & Wakefield, handled the tenant representation.

Players

Kevin Carton

Cushman & Wakefield

Broker

$224M

vol

9 deals

Broker
Jose Minaya

Jose Minaya

Nuveen

Landlord

$313.5M

vol

7 deals

Landlord

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