Top1031

200 Metro Boulevard

Life-sciences property in Nutley, NJ · sponsored by Cantor Fitzgerald

Historical · convertedConverted into REIT units (721 exchange) Feb 2026 · last Form D Feb 28, 2023baker1031.com (opens in a new tab)

200 Metro Boulevard was a DST sponsored by Cantor Fitzgerald that owned a life-sciences property in Nutley, NJ (300,000 sq. ft.). Converted into REIT units (721 exchange) Feb 2026.

How it ended

Moved into a REIT, value not stated

Converted into REIT units (721 exchange) Feb 2026.

Date
Feb 1, 2026
Held
3.7 years

Source: cited report (opens in a new tab)

Cantor Fitzgerald has 5 active offerings on record →

Key facts

Minimum investment
$250,000
From the Form D
Offering size
$69,800,000
Equity offered, per the Form D
Sold
100%
Form D, Feb 28, 2023; the % is our arithmetic
Investors reported
116
Form D, Feb 28, 2023
Selling commissions
$3,490,000 · 5.0% of offering
Form D Item 15; the % is our arithmetic
Financing
Leveraged. This offering reports mortgage debt on the property.
How it is financed ↓
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.

Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →

Using this record to judge the sponsor? A licensed 1031 specialist from our affiliated partner can talk it through with you.

Ask a 1031 specialist about this recordFree. About: 200 Metro Boulevard. Top1031 is not a broker-dealer.

What did 200 Metro Boulevard own?

Prism Capital Partners developed the 15-story tower as the flagship office building of its ON3 campus in Nutley, New Jersey. Eisai Inc. opened its U.S. headquarters there in March 2022, and Prism sold the building to a Cantor Fitzgerald affiliate that July for $131.7 million, which NorthJersey.com described as the largest New Jersey office sale. Cantor's property profile states the Trust holds fee-simple title. 1

Reported location
Nutley, NJ
Property size
300,000 sq. ft.; (REBusinessOnline); 306,000 SF (ON3 marketing page)

How was it financed, and what did it cost to sell?

The Trust carried mortgage debt rather than owning free and clear. A Cantor Fitzgerald Income Trust supplement filed with the SEC reports the ON3 borrower entered a fixed-rate loan with JP Morgan Asset Management on April 22, 2022, maturing May 1, 2032. 2

Debt

Financing
Leveraged. This offering reports mortgage debt on the property.
Converted to a REIT (721)
Yes: converted into REIT units Feb 2026
Source: cited report

Costs and terms from the Form D

Selling commissions
$3,490,000 · 5.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$7,417,825 · 10.6% of offering
Form D Item 16
· The filing’s note: “Est. certain fees & exp., incl. Offering & Organizational Expenses, Loan & Lender Exp., Managing Broker-Dealer Fee, Closing Costs, Marketing & Due Diligence Allowance, Operating Trust Reserves & Structuring Fee may accrue to one or more related persons.”
Broker-dealers named in the Form D
29 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
May 11, 2022
Minimum investment
$250,000

Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together. The issuer marked these amounts as an estimate.

What does the SEC record show?

Cantor Fitzgerald filed an original Form D — the SEC notice a private placement files after its first sale — for a Delaware statutory trust organized in Delaware in 2022, then amended it once to update the offering's progress. 4 Interests were sold privately, without general advertising, to accredited investors.

Legal Trust name
CF ON3 Lifesciences Parent DST
SEC CIK
1928276
First Form D
May 23, 2022
Latest Form D
Feb 28, 2023
Filings on record
2
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount soldInvestors
Form D/A$69,800,000
$69,800,000+$53,506,465
116+91
EDGAR
Form D$69,800,000
$16,293,535
25
EDGAR

Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.

A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.

Common questions

What happened to 200 Metro Boulevard?
200 Metro Boulevard is a Historical offering. Converted into REIT units (721 exchange) Feb 2026.
Did 200 Metro Boulevard convert into REIT units through a 721 exchange?
Converted into REIT units (721 exchange) Feb 2026. In a 721 exchange, or UPREIT, the DST’s property is contributed to a REIT’s operating partnership and investors receive operating-partnership units instead of cash.
How a DST-to-721 UPREIT exit works
Who is the tenant?
Eisai Inc., which opened its U.S. headquarters at 200 Metro Boulevard on the ON3 campus in March 2022. Cantor's property profile, dated 2022, described the building as fully leased to Eisai on a triple-net basis through December 31, 2038. Occupancy has not been independently restated in more recent public sources.
How large is the building?
Sources differ. REBusinessOnline reported 300,000 square feet, the ON3 campus marketing page says 306,000 square feet, and Cantor's own property profile lists 332,818 square feet. All three describe the same 15-story tower at 200 Metro Boulevard in Nutley, New Jersey.
Is there anything adverse on the public record?
A law-firm webpage dated April 22, 2025 advertises an investor-complaints investigation naming this DST. No underlying complaint, court docket, or regulatory order was located in the retrieved material, so it does not establish misconduct, investor loss, or distress. No property-level distress, tenant default, or default notice was substantiated in public records reviewed through August 2026.
Was the Trust leveraged?
Yes. An SEC-filed Cantor Fitzgerald Income Trust supplement reports that on April 22, 2022 the ON3 DST entered a loan with JP Morgan Asset Management with outstanding principal of $66,731,250, fixed-rate, maturing May 1, 2032. Leveraged DSTs pass through mortgage debt that can help a 1031 investor replace debt from a relinquished property.

In the news

Sources

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These links support the record as a whole; individual details may come from different sources.

DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current offering documents before investing.