Updated Oct 29, 2024
Ryan J. Barikian Negotiates Burlington Office Lease For Innovative Life Of New Jersey LLC
1900 Mt Holly Rd, Burlington Townshi...
Building Size
3,400 SF
Asset Type
MultiFamily
Closing
Nov 22, 2023
About this deal
AI
The property involved in this transaction is a 3,400-square-foot office space located at 1900 Mt Holly Rd, Burlington Township, within the Mount Holly market. It is situated in the Burlington Professional Campus. The landlord for this lease agreement is Zaman International Development LLC, while Innovative Life of New Jersey LLC is the tenant occupying the space.
Summary of transaction details:
- Property Type: Office Lease
- Transaction Amount: Not specified
- Square Feet: 3,400
- Address: 1900 Mt Holly Rd, Burlington Township
- Market: Mount Holly
- Landlord: Zaman International Development LLC
- Tenant: Innovative Life of New Jersey LLC
- Landlord's Representative: Ryan J. Barikian - Wolf Commercial Real Estate
- Tenant's Representative: Ryan J. Barikian - Wolf Commercial Real Estate
The deal was facilitated by Ryan J. Barikian, who represented both the landlord, Zaman International Development LLC, and the tenant, Innovative Life of New Jersey LLC. Innovative Life of New Jersey LLC operates as a regional division of Innovative Life Solutions Inc., a disability services organization based in the Washington, D.C., metro area.
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Mount Holly MultiFamily Market Snapshot
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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