Educational Testing Service Sells Ewing Office & Industrial Property For $18.7M
SOLD
$18,700,000
+ 7
New Jersey
See Similar DealsIndustrial310,000 SF
Sold 01/10/2022
SOLD
Educational Testing Service Sells Ewing Office & Industrial Property For $18.7M
225 Phillips Boulevard, Ewing Township, New Jersey 08618, United States
See Similar DealsIndustrial310,000 SF
Sold 01/10/2022
+ 7
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$60
Total Square Footage:310,000 SF
Transaction Type:Sale
The property involved in this closed transaction is an Office & Industrial asset located at 225 Phillips Blvd in Ewing, NJ. The property spans a total area of 310,000 square feet and was sold for a price of $18,700,000, resulting in a price per square foot of $60.
Summary of transaction details:
- Property Type: Office & Industrial
- Transaction Amount: $18,700,000
- Address: 225 Phillips Blvd, Ewing, NJ
- Market: Ewing, NJ
The property was sold by the seller, Educational Testing Service (ETS). The sale was facilitated by a team of brokers from CBRE, including Jeffrey Dunne, Jeremy Neuer, Steve Bardsley, David Gavin, Rich Gatto, Fahri Ozturk, Travis Langer, Zach McHale, Matthew Saker, and Alec Monaghan.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$997,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$66,437.16
Cash-on-Cash Return-1.27%
Monthly Debt Service$88,647.54
Annual Debt Service$1,063,770.48
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