Colliers Secures Genmab Lease Expansion At Plainsboro Office To 270K SF
777 Scudders Mill Road
Building Size
270,000 SF
Asset Type
Office
Closing
Mar 26, 2024
AI
Located at 777 Scudders Mill Road in Plainsboro, NJ, the office asset spanning 270,000 square feet was involved in a recent lease transaction. The landlord, ThirdPoint Real Estate, secured a deal with tenant Jan G. J. van de Winkel of Genmab.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 777 Scudders Mill Road
- Market: Plainsboro
- Landlord: ThirdPoint Real Estate
- Tenant: Jan G. J. van de Winkel - Genmab
- Broker: Charlie Hatfield - Colliers
- Lease Term: 12-year
Colliers, led by Charlie Hatfield, facilitated Genmab's expansion by 135,000 square feet at the Princeton Forrestal Innovation Park. This lease deal showcased ThirdPoint Real Estate's top-notch amenities and a collaborative office environment at 777 Scudders Mill Road.
Players
Plainsboro 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