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Route 518 and Vreeland Driv...

Updated Oct 29, 2024

Larken Associates Leases Skillman Office Space To Alloway Construction & Restoration
LEASEDOffice

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

Susan Livingstone

Broker

1 deal

Broker
LA
Larken AssociatesLandlord

New Jersey Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Deal FAQ

About $35 per square foot on a published $35 for 1,500 square feet (2023).

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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

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