107 Morgan Lane in Plainsboro — Courtesy: Cushman & Wakefield
By Tina Traster
Cushman & Wakefield has negotiated the sale of a 44,400-square-foot life sciences building in Plainsboro, the brokerage team announced Thursday.
The firm said it represented the seller, XBL Realty, in the transaction at 107 Morgan Lane, noting that the single-story property is leased long-term to a subsidiary of WuXi AppTec, a publicly traded global pharma, biopharma and medical device company. A private buyer purchased the asset for an undisclosed price.
“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,” C&W’s Frank 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.”
DiTommaso completed the assignment alongside David Bernhaut and Andy Merin. They also said the building, located between Route 1 and the New Jersey Turnpike, is less than 15 minutes from NJ Transit’s Princeton Junction station.
Other features include energy-efficient HVAC systems, drive-in loading and a full sprinkler system.
Tina Traster is a freelance writer and the editor of Rockland County Business Journal. She is also a former business writer for Crain’s New York Business, real estate writer for the New York Post and staffer at the Bergen Record.
