Updated Aug 14, 2025
Ralph Zucker Of Inspired By Somerset Development Leases Office Space To JCP&L In Holmdel
101 Crawfords Corner Road
Building Size
69,870 SF
Asset Type
Office
Closing
Aug 13, 2025
About this deal
AI
The property at 101 Crawfords Corner Road in Holmdel is an office asset totaling 69,870 square feet. This leasing transaction involves a renewed agreement for 64,553 square feet of office space and 5,317 square feet of storage space, accommodating JCP&L, which has been utilizing the complex since 2017.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 101 Crawfords Corner Road
- Market: Holmdel
- Landlord: Ralph Zucker - Inspired by Somerset Development
- Tenant: JCP&L (Jersey Central Power & Light)
- Total Square Footage: 69,870
- Office Space: 64,553 square feet
- Storage Space: 5,317 square feet
Ralph Zucker, representing Inspired by Somerset Development, is the landlord in this transaction. JCP&L (Jersey Central Power & Light) has remained consistent at this location, reinforcing their commitment to the site since relocating their regional headquarters there in 2017.
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Office
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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