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
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