Machine and Onyx Equities have sold part of the NEST campus in Kenilworth, New Jersey to CoreWeave for $322 million. The sale covers a 280,000 square foot lab and manufacturing building, leased to CoreWeave in 2024 and now to be run as a data center, together with 27 acres of adjacent land the company will develop for further capacity. Newmark represented the sellers.
NEST, the Northeast Science and Technology Center, is the former Merck headquarters on Galloping Hill Road. The joint venture acquired the two million square foot campus in February 2023 for $187.5 million and has spent more than two years repositioning it as a mixed use research and innovation hub. Machine and Onyx continue to own and operate the balance of the site.
Source Real Estate NJ