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Warren Corp Center Drive

Regeneron Pharmaceuticals Leases 126,678 SF Office Space At Warren Corporate Center
LEASEDOffice

Regeneron Pharmaceuticals Leases 126,678 SF Office Space At Warren Corporate Center

Warren Corp Center Drive

Building Size

126,678 SF

Asset Type

Office

Closing

May 14, 2024

AI

Warren Corporate Center, located at 100 & 200 Warren Corp Center Drive in Warren, is a bustling office asset spanning 126,678 square feet. The property is situated in the Warren market and has recently seen high occupancy rates thanks to a lease transaction involving Regeneron Pharmaceuticals.

Summary of transaction details:

Regeneron Pharmaceuticals' lease of 126,678 square feet at Warren Corporate Center has brought the campus to over 95% occupancy. The lease deal was facilitated by Rubenstein Partners and Vision Real Estate Partners, who have enhanced the facility and amenities. Notably, the property now features Warren Hill, a lifestyle center offering various amenities such as an outdoor amphitheater, dining areas, conference spaces, and a fitness center. Representing Regeneron Pharmaceuticals in the deal were Joshua Cohen and Marc Rosenberg from Cushman & Wakefield, while the landlord was represented by a team from the same firm consisting of Robert Donnelly Sr., Robert Donnelly Jr., Paul Giannone, Todd Elfand, and Kevin Carton.

Players

Kevin Carton

Cushman & Wakefield

Broker

$224M

vol

9 deals

Broker

Warren 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