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
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