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777 Scudders Mill Road

Colliers Secures Genmab Lease Expansion At Plainsboro Office To 270K SF
LEASEDOffice

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

Charlie Hatfield

Colliers

Broker

3 deals

Broker

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