Cushman & Wakefield on Thursday said it arranged the trade of a 44,400-square-foot life science building located at 107 Morgan Lane in Plainsboro.
Terms of the deal were not disclosed.
C&W’s Frank DiTommaso, David Bernhaut and Andy Merin represented the seller, XBL Realty, in the transaction. The buyer of the property is 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,” DiTommaso said. “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.
The asset is located between Route 1 and the New Jersey Turnpike and is less than 15 minutes away from the Princeton Junction Commuter Rail.