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
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