Office · Warren, New Jersey
Center 78
Center 78 is financed with a $35.9M CMBS loan at 4.643% that reaches its anticipated repayment date on August 9, 2027, in 9 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer and 90+ days delinquent.
The loan
- Balance in tracked trusts
- $35,863,277
- Original balance (same notes)
- $35,863,277
- Interest rate
- 4.643% fixed
- Originated
- August 9, 2017
- Maturity
- August 9, 2027
- Anticipated repayment date
- August 9, 2027 (the rate steps up if the loan is not repaid by then)
- Payments
- Interest only for 119 months, then amortizing
- Master servicer
- KeyBank Real Estate Capital
- Originator
- Natixis Real Estate Capital LLC
Status
- Payment status
- 90+ days delinquent (code 3)
- Special servicing
- Transferred December 18, 2023
- Workout strategy
- REO
- Defeasance
- None reported
The property
- Address
- 184 Liberty Corner Road, Warren, NJ 07059
- Metro
- New York-Newark-Jersey City, NY-NJ
- Rentable area
- 372,672 sq ft
- Built
- 1982, renovated 2015
- Largest tenants
- Haleon US Holdings LLC; Tegra 118 Wealth Solution; Continental Casualty Company
- Value at securitization
- $94.8M (Jun 2017)
Performance
| At securitization | Latest (Sep 2023) | |
|---|---|---|
| DSCR (NOI) | n/a | 0.96x |
| Occupancy | 89% | 65% |
| Net operating income (annualized from 9 months) | n/a | $5.3M |
| Debt yield | 14.9% |
Debt yield here is the latest NOI divided by the balance held in the trusts below. If part of the loan sits outside them, the true figure is lower.
Watch flags
Computed from the CSAIL 2017-CX9 Commercial Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
- Coverage below 1.00x
- Occupancy down 10 points or more from securitization
- Matures within 12 months
- Largest tenant's lease ends within 12 months
On the cmbs.news watch list in all 12 monthly reports we hold (October 2025 to September 2026).
cmbs.news's own rule-based labels on the filed fields (definitions), not a credit rating, a prediction or a view of the borrower.
What the filing shows
- Occupancy has fallen from 89% when the loan was securitized to 65%.
- At 0.96x, the property's reported NOI does not cover its debt service.
- The most recent valuation in the filing is $34.8M (May 14, 2026), against $94.8M at securitization.
- The filing gives Feb 2027 as the lease end date for the largest tenant (Haleon US Holdings LLC), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $35.9M | 90+ days delinquent | Yes | 0.96x | 65% |
| August 2026 | $35.9M | 90+ days delinquent | Yes | 0.96x | 65% |
| July 2026 | $35.9M | 90+ days delinquent | Yes | 0.96x | 65% |
| June 2026 | $35.9M | 90+ days delinquent | Yes | 0.96x | 65% |
| May 2026 | $35.9M | 90+ days delinquent | Yes | 0.96x | 65% |
| April 2026 | $35.9M | 90+ days delinquent | Yes | 0.96x | 65% |
| March 2026 | $35.9M | 90+ days delinquent | Yes | 0.96x | 65% |
| February 2026 | $35.9M | 90+ days delinquent | Yes | 0.96x | 65% |
| January 2026 | $35.9M | 90+ days delinquent | Yes | 0.96x | 65% |
| December 2025 | $35.9M | 90+ days delinquent | Yes | 0.96x | 65% |
| November 2025 | $35.9M | 90+ days delinquent | Yes | 0.96x | 65% |
| October 2025 | $35.9M | 90+ days delinquent | Yes | 0.96x | 65% |
From each trust's ABS-EE filing for that month. Coverage and occupancy change only when the servicer reports new statements. If one trust holding a piece of the loan skipped a month, that month's balance reads low.
Special-servicing history
- Transferred to the special servicer December 18, 2023, still there.
Transfer and return dates as reported in the filings of the past year; an earlier episode shows here only if a filing in that year still reports it.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| CSAIL 2017-CX9 Commercial Mortgage Trust | 11 | $35,863,277 | Sep 2026 | SEC filing, September 28, 2026 |
Other New York-Newark-Jersey City loans due in 2027
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| General Motors Building | New York, NY | Mixed use | $726.3M | 3.43% | Jun 2027 | 2.58x | 99% | Current |
| 245 Park Avenue | New York, NY | Office | $700.0M | 3.669% | Jun 2027 | 2.08x | 97% | Current |
| Yorkshire Towers | New York, NY | Multifamily | $318.0M | 3.04% | Jun 2027 | n/a | n/a | Current |
| Olympic Tower | New York, NY | Mixed use | $280.0M | 3.954% | May 2027 | n/a | n/a | Current |
| 85 Broad Street | New York, NY | Office | $241.0M | 3.693% | Jun 2027 | 2.28x | 62% | With the special servicer |
| 225 & 233 Park Avenue South | New York, NY | Office | $235.0M | 3.651% | Jun 2027 | -0.14x | 29% | Current |
| Worldwide Plaza | New York, NY | Office | $235.0M | 3.605% | Nov 2027 | 1.49x | 62% | With the special servicer and 90+ days delinquent |
| 237 Park Avenue | New York, NY | Office | $215.4M | 3.752% | Aug 2027 | 3.71x | 89% | Current |
All loans maturing in 2027 · All New York-Newark-Jersey City loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending September 11, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.