Strategic Funding Alternatives LLC Acquires Office Complex In Mount Laurel From NAI Capital
125 Gaither Dr, Mount Laurel Townshi...
Building Size
115,733 SF
Asset Type
Office
Closing
Nov 22, 2023
About this deal
AI
An investment firm, Strategic Funding Alternatives LLC, has acquired an office and flex complex located at 125 Gaither Dr in Mount Laurel Township. The complex, known as East Gate Business Center, spans eight buildings and measures 115,733 square feet on a nine-acre property. The transaction closed with terms undisclosed, and the complex is currently 90 percent leased.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Seller's Representative: Scott Mertz(NAI Capital)
- Buyer: Strategic Funding Alternatives LLC
- Square Footage: 115,733
NAI Mertz President Scott Mertz, along with his team, represented the seller in the deal. They have served as the exclusive leasing agents at East Gate since 1998 and are pleased to have facilitated the transaction with the buyer. Strategic Funding Alternatives LLC expressed plans to upgrade the property’s signage, common areas, and landscaping to enhance the complex further and attract new tenants.
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Boundary boundary · Office · Sale transactions
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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