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102 Gaither Dr, Mount Laure...

Strategic Funding Alternatives LLC Acquires 116,000 SF Office Complex In Mount Laurel
SOLDOffice

Strategic Funding Alternatives LLC Acquires 116,000 SF Office Complex In Mount Laurel

102 Gaither Dr, Mount Laurel Townshi...

Building Size

116,000 SF

Asset Type

Office

Closing

Dec 23, 2019

AI

The East Gate Business Center, a 116,000-square-foot office complex located at 102 Gaither Dr, Mount Laurel Township, was recently sold in a transaction brokered by NAI Mertz. The complex consists of eight buildings and was 94 percent leased at the time of sale. Notable tenants in the complex include NJ Default Group LLC, Terminix International Co., and The McSweeney Agency. Scott Mertz, John Adderly, Rebecca Ting, and Julie Kronfeld of NAI Mertz represented the seller, Eastgate Business Center LLC, while the buyer was Strategic Funding Alternatives LLC.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Undisclosed
  • Seller's Representative: Scott Mertz(NAI Capital)
  • Buyer: Strategic Funding Alternatives LLC
  • Square Footage: 116,000

The sale of the East Gate Business Center was facilitated by a team of brokers from NAI Mertz, who worked diligently to represent both the seller and the buyer in the transaction. The involvement of Strategic Funding Alternatives LLC as the purchasing entity signifies a strategic investment move in the commercial real estate market in Mount Laurel Township, offering significant potential for both parties involved in the deal.

Players

Scott Mertz

NAI Global

Broker

$44.9M

vol

15 deals

Broker
SL
Strategic Funding Alternatives LLCBuyer

Market Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93