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101 Woodcrest Rd, Cherry Hi...

Crown Properties Inc. Leases 32212 Square Feet At 101 Woodcrest Rd In Cherry Hill
LEASEDOffice

Crown Properties Inc. Leases 32212 Square Feet At 101 Woodcrest Rd In Cherry Hill

101 Woodcrest Rd, Cherry Hill, NJ, 08...

Building Size

32,212 SF

Asset Type

Office

Closing

Nov 19, 2023

AI

The property involved in the transaction is located at 101 Woodcrest Rd, Cherry Hill, NJ, 32212 square feet of space situated within the Cherry Hill market. The landlord for this lease is Crown Properties Inc., represented by Daniel Close from Redfin and CBRE.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Landlord: Crown Properties Inc.
  • Landlord's Representatives: Daniel Close - Redfin, Daniel Close - CBRE
  • Tenant: Not specified
  • Square Feet: 32,212

Digital platform provider Conduent Business Services LLC renewed its lease, while Penn Interactive Ventures signed a lease for the remaining space. Dan Close and Rick Widerman played key roles in representing the landlord during the negotiations for both leases.

Players

Daniel Close

Redfin

Broker

$3.1M

vol

4 deals

Broker
CI
Crown Properties Inc.Landlord

Cherry Hill 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93