**CoreWeave Acquires NEST Campus in Kenilworth for $322 Million**
Newmark has announced the successful arrangement of the $322 million sale of the Northeast Science and Technology Center (NEST), a 107-acre, two-million-square-foot mixed-use campus located at 2000 Galloping Hill Road in Kenilworth, New Jersey.
The Newmark team handling the transaction was led by Andrew Warin and Josh King, in partnership with Brent Mayo and under the direction of Doug Harmon and Jordan Roeschlaub. The sellers—Machine Investment Group and Onyx Equities—were represented by Newmark. The buyer, CoreWeave, is a leading cloud infrastructure provider focused on artificial intelligence applications.
“This transaction underscores the accelerating demand for high-powered, well-located sites capable of supporting AI and cloud workloads at scale,” said Doug 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 acquisition follows CoreWeave’s October 2024 lease agreement for a 280,000-square-foot facility within the campus, where the company revealed plans to invest $1.2 billion in developing its first New Jersey-based data center.
Previously owned by pharmaceutical giant Merck, the Kenilworth campus was acquired in 2023 by Onyx Equities and Machine Investment Group for $187.5 million. At that time, the buyers announced plans to transform the property into a mixed-use life sciences and innovation hub.
CoreWeave’s acquisition further cements the site’s evolution into a critical infrastructure hub supporting the region’s growing AI and data center needs.
