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CoreWeave Acquires NEST Campus Building in Kenilworth for $322M
(updated with additional information)
Newmark and Cushman & Wakefield arranged the $322-million sale of Nest 11 at the Northeast Science and Technology Center (NEST), a 107-acre, two-million-square-foot mixed-use campus at 2000 Galloping Hill Rd. in Kenilworth, NJ. The sale involved a 280,000-square-foot building that was leased to CoreWeave in 2024, as well as a 27-acre land parcel immediately surrounding the building in a transaction brokered by Cushman & Wakefield, on behalf of the buyer, and Newmark, on behalf of the seller.
The balance of the 107 acre-site, which is owned by Onyx Equites and Machine Investment Group, includes 1.7 million square feet of additional leasable area and is being marketed through JLL, its exclusive leasing agent.
The Newmark team was led by Andrew Warin and Josh King, in collaboration with Brent Mayo and oversight from Doug Harmon and Jordan Roeschlaub, who represented the sellers, Machine Investment Group and Onyx Equities. The buyer was CoreWeave, a leading cloud provider specializing in AI infrastructure.
“This transaction underscores the accelerating demand for high-powered, well-located sites capable of supporting AI and cloud workloads at scale,” said Harmon. “CoreWeave’s investment in Kenilworth reflects the site’s strategic potential and the market’s appetite for next-generation infrastructure aligned with near-term power delivery.”
Formerly owned by Merck, the campus was acquired in 2023 by Onyx Equities and Machine Investment Group for $187.5 million, with plans to reposition the property into a mixed-use life sciences and innovation hub.
- ◦Sale/Acquisition
