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4 Princess Road

Sovereign Care Services Leases Medical Office At Princess Road Office Park In Lawrenceville For Full Occupancy
LEASEDMedical Office

Sovereign Care Services Leases Medical Office At Princess Road Office Park In Lawrenceville For Full Occupancy

4 Princess Road

Building Size

5,384 SF

Asset Type

Medical Office

Closing

Jan 4, 2024

AI

Sovereign Care Services has leased a 5,384-sq.-ft. medical office at Princess Road Office Park in Lawrenceville. The property, located at 4 Princess Road, is part of a 49,094-sq.-ft. office park. The park offers prime amenities such as private facilities for each suite, on-site daycare, and close proximity to hotels and restaurants. The strategic location of the office park, at Exit 68 and Interstate 295 interchange, makes it an attractive choice for businesses.

Summary of transaction details

  • Property Type: Medical Office
  • Transaction Amount: Not disclosed
  • Square Footage: 5,384 sq. ft.
  • Address: 4 Princess Road, Lawrenceville
  • Market: Lawrenceville

The tenant, Thelma Wilson, leased the medical office space from the landlord, Larry Gardner, who is associated with Larken Associates. The deal was facilitated by the broker, Rob Marek, from Raider Realty.

Players

Rob Marek

Raider Realty

Broker

3 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