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685 US Route 202

Biocon Biologics Leases 9624 Square Feet Office Space In Bridgewater For New Headquarters
LEASEDOffice

Biocon Biologics Leases 9624 Square Feet Office Space In Bridgewater For New Headquarters

685 US Route 202

Building Size

9,624 SF

Asset Type

Office

Closing

Jul 22, 2024

AI

The property asset involved in the transaction is located at 685 US Route 202 in Bridgewater, NJ. It is an office building classified as Class B, encompassing 9,624 square feet. The property provides extensive amenities and strategic access to major New Jersey highways and airports.

Summary of transation details:

The lease was finalized on 07/22/2024. Biocon Biologics has secured the office space for its new North American headquarters, with the negotiation handled by Drew Persson representing the landlord while the tenant was represented by a team from The KRE Group under Cushman & Wakefield.

Players

Drew Persson

Avison Young

Broker

2 deals

Broker

Bridgewater 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