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
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