Newmark arranged the $322-million sale of 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 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.”
The transaction follows CoreWeave’s October 2024 lease of a 280,000-square-foot building within the campus, where it announced plans to invest $1.2 billion to develop its first New Jersey data center.
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.
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