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Single-Tenant Life Science Building Trades in Greater Princeton
Cushman & Wakefield arranged the sale of a 44,400-square-foot life science building at 107 Morgan Ln. in Plainsboro, NJ, near Princeton. The firm’s Frank DiTommaso, David Bernhaut and Andy Merin represented the seller, XBL Realty. The buyer and sale price were undisclosed.
“We are extremely pleased to have had the opportunity to represent XBL in this sale, and we are excited to have successfully arranged yet another life sciences sale transaction in 2022,” said DiTommaso. “The Greater Princeton market continues to flourish as a hub for life sciences and pharma due to its highly-educated labor force and existing supply of quality lab inventory.”
The property is a single-story life science building that features energy-efficient HVAC systems, drive-in loading and a full sprinkler system. The property was delivered under a long-term lease to a subsidiary of WuXi AppTec, a publicly traded global pharma, biopharma and medical device company.
- ◦Sale/Acquisition