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:
- Property Type: Office
- Transaction Amount: Not specified
- Landlord: David Rubenstein - Rubenstein Partners; Samuel J. Morreale & Ross M. Chomik - Vision Real Estate Partners
- Tenant: Leonard S. Schleifer - Regeneron Pharmaceuticals
- Landlord's Rep: Kevin Carton, Paul Giannone, Robert Donnelly Sr, Robert Donnelly, Jr. & Todd Elfand - Cushman & Wakefield
- Tenant's Rep: Joshua Cohen & Marc Rosenberg - Cushman & Wakefield
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
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