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4 Princess Rd, Trenton, NJ,...

Delaware Valley Retina Renews Lease At Princess Road Office Park In Lawrence Township
LEASEDMedical Office

Delaware Valley Retina Renews Lease At Princess Road Office Park In Lawrence Township

4 Princess Rd, Trenton, NJ, 08648

Building Size

5,938 SF

Asset Type

Medical Office

Closing

Nov 22, 2023

AI

The property at 4 Princess Rd, Trenton, NJ, 08648, located in Lawrence Township, is a medical office asset occupied by Delaware Valley Retina Associates. The tenant, Delaware Valley Retina Associates, has renewed their presence at the Princess Road Office Park, where they specialize in the diagnosis and treatment of retinal disorders. The medical practice occupies 5,938 square feet within the complex and has been part of the Lawrence Township community for over 23 years.

Summary of transaction details:

  • Property Type: Medical Office
  • Transaction Amount: Not disclosed
  • Tenant: Delaware Valley Retina Associates
  • Landlord: Larken Associates
  • Square Feet: 5,938
  • Tenant's Rep: Vinny DiMeglio (JLL)

Vinny DiMeglio of JLL represented Delaware Valley Retina Associates in the lease renewal deal at the Princess Road Office Park. The landlord, Larken Associates, was represented by their in-house brokerage division, Raider Realty, with Victor Kelly serving as the executive vice president. The property, spanning nine acres and totaling 47,094 square feet across two buildings, offers custom-built tenant spaces that include private bathrooms, kitchenettes, and separate utilities. The office park is strategically located near the interchange of Exit 68 on Interstate 295, close to Princeton Pike and Franklin Corner Road.

Players

Vinny DiMeglio

JLL

Broker

4 deals

Broker
LA
Larken AssociatesLandlord

Lawrence Township 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