Updated Oct 29, 2024
Larken Associates Leases Skillman Office Space To Alloway Construction & Restoration
Route 518 and Vreeland Drive, New Jersey 08558, USA
$35
$35/SF
Building Size
1,500 SF
Asset Type
Office
Closing
Jun 8, 2023
About this deal
AI
Larken Associates has successfully negotiated a lease for Alloway Construction & Restoration at Montgomery Professional Center in Skillman. The six-building complex, located at the intersection of Route 518 and Vreeland Drive, offers a prime location with convenient access to the Princeton business corridor. The office space, spanning approximately 1,500 square feet, is an ideal fit for Alloway Construction & Restoration's service-oriented business. The lease transaction was facilitated by broker Susan Livingstone of Raider Realty, representing Alloway Construction & Restoration.
Summary of transaction details
- Property Type: Office
- Asking Rent: $35 per square foot
- Square Footage: 1,500
- Address: Route 518 and Vreeland Drive
- Market: Skillman
- Landlord: Larken Associates
- Tenant: Alloway Construction & Restoration
- Broker: Susan Livingstone - Raider Realty
The negotiation of this lease marks a successful partnership between Larken Associates, the landlord, and Alloway Construction & Restoration, the tenant. The Montgomery Professional Center provides an excellent location for Alloway Construction & Restoration's service-oriented business, offering easy access to the thriving Princeton business corridor. The deal was facilitated by Susan Livingstone of Raider Realty, who represented the tenant in the transaction.
Players
New Jersey Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
453228.57%
Cash-on-Cash
-129534.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93