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650 College Rd E, Princeton...

Nuveen Real Estate Leases 11200 Square Feet To United Silicon Carbide In Princeton
LEASEDOffice

Nuveen Real Estate Leases 11200 Square Feet To United Silicon Carbide In Princeton

650 College Rd E, Princeton, NJ, 08540

Building Size

11,200 SF

Asset Type

Office

Closing

Jun 4, 2020

AI

The property involved in the transaction is located at 650 College Rd E, Princeton, NJ, 08540. It has a total square footage of 11,200 and is part of a larger 169,896-square-foot building. The property is situated within Princeton University’s 2,000-acre master-planned business/research campus and was completed in 1999. The building includes features such as a 60-foot glass atrium, an outdoor courtyard with a seating area and private patio, along with a café and conference facility available in the adjacent sister building at 600 College Road E.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not disclosed
  • Address: 650 College Road E, Princeton, NJ, 08540
  • Market: Princeton
  • Landlord: Nuveen Real Estate
  • Tenant: United Silicon Carbide
  • Landlord's Rep: Kevin Carton, Cushman & Wakefield
  • Tenant's Reps: John Buckley and Jon Compitello, JLL

Managing Directors Todd Elfand and Kevin Carton, Executive Managing Director Paul Giannone, and Associate Joe Vacca represented the landlord, Nuveen Real Estate, in this transaction. The tenant secured the lease for a first-floor office space, contributing to the ongoing leasing activities managed by a different Cushman & Wakefield team for Advance Realty Investors’ portfolio in Bedminster, NJ.

Players

Kevin Carton

Cushman & Wakefield

Broker

$224M

vol

9 deals

Broker
Nuveen
NuveenLender
Nuveen
NuveenLandlord

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