Larken Associates Leases 6,200 SF Medical Office Space At Strykers Plaza In Phillipsburg
207 Strykers Road
Building Size
6,200 SF
Asset Type
Medical Office
Closing
Nov 13, 2023
AI
Larken Associates has secured a lease for Hunterdon Healthcare, providing over 6,200 square feet of medical office space at Strykers Plaza in Phillipsburg, Warren County. The property, located at 207 Strykers Road, offers convenient access to major routes 22, 57, and Interstate 78. This lease agreement supports Hunterdon Healthcare's expansion plans and allows them to serve the community more effectively.
Summary of transaction details
- Property Type: Medical Office
- Square Footage: 6,200
- Address: 207 Strykers Road, Phillipsburg, Warren County
- Market: Phillipsburg
David Gardner, from Larken Associates, represented the landlord in this transaction. Hunterdon Healthcare was represented by Patrick J. Gavin. Victor Kelly of Raider Realty acted as the broker in this deal. With the lease secured, Hunterdon Healthcare can now expand their operations and provide improved healthcare services to the community.
Players
Phillipsburg 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