Larken Associates Secures Leases With Hunterdon Health And Tri County CMO In Stewartsville
Building Size
20,217 SF
Asset Type
Medical Office
Closing
Mar 14, 2025
AI
The property involved in this lease transaction is a medical office located at 1 Greenwich Street in Stewartsville. The total square footage of the asset is 20,217 square feet.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: Not specified
- Address: 1 Greenwich Street
- Market: Stewartsville
- Landlord: David Gardner - Larken Associates
- Tenant: Patrick J. Gavin - Hunterdon Health
- Tenant: James Parauda - Tri County Care Management Organization (Tri County CMO)
- Brokers: Victor Kelly - Raider Realty; JLL; CBRE
Victor Kelly of Raider Realty represented Larken Associates in the lease agreement with Hunterdon Health, while JLL and CBRE facilitated the lease with Tri County CMO. Larken Associates secured leases totaling 20,217 square feet at Greenwich Commons, equally divided between the two tenants.
Players
Market Medical Office Market Snapshot
Boundary boundary · Medical Office · Lease 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