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17 West St, East Hanover, N...

Columbia Bank Refinances Industrial Office In East Hanover, NJ For $3.35M
FINANCEDIndustrial

Columbia Bank Refinances Industrial Office In East Hanover, NJ For $3.35M

17 West St, East Hanover, New Jersey 07936, United States

$3,350,000

$142/SF

Building Size

23,500 SF

Asset Type

Industrial

Closing

Mar 20, 2022

AI

Located at 17 West Street in East Hanover, NJ, this industrial office property spans a total of 23,500 square feet. The property was involved in a recent loan transaction.

Summary of transaction details

The loan amount for this transaction was $3,350,000, and it was a refinance loan. The property's landlord, Roy Pascal, was represented by Kathy Anderson & Caillin Boles from Progress Capital.

Players

Kathy Anderson

Cushman & Wakefield

Broker

$937.3M

vol

56 deals

Broker
Columbia Bank
Columbia BankLender
Roy Pascal

Roy Pascal

Commerce Park Investors

Landlord

$61.8M

vol

13 deals

Landlord

East Hanover Industrial Market Snapshot

Boundary boundary · Industrial · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.74%

Cash-on-Cash

-1.35%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93