Updated Oct 29, 2024
Vision Solar LLC Leases Office Space In Cherry Hill With Wolf Commercial Real Estate
111 Woodcrest Rd, Cherry Hill, NJ, 08...
Building Size
6,318 SF
Asset Type
Office
Closing
Nov 22, 2023
About this deal
AI
A solar panel manufacturer has leased more than 6,300 square feet at 111 Woodcrest Road in Cherry Hill, New Jersey. The property is located within The Woodcrest Corporate Center, close to the PATCO Speedline and just minutes from Interstate 295.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Tenant's Rep: Ryan J. Barikian (Wolf Commercial Real Estate)
- Landlord: Woodcrest IV LLC
- Square Feet: 6,318
Vision Solar LLC, doing business as Solar Exchange, has secured the 6,318-square-foot lease with the landlord, Woodcrest IV LLC, a unit of TIER REIT Inc. The lease was completed by WCRE Senior Associate Ryan Barikian. Headquartered in Philadelphia, Vision Solar is a full-service renewable energy company specializing in manufacturing and installing solar arrays for both residential and commercial properties. The company operates in Pennsylvania and New Jersey for residential installations and nationally for commercial buildings.
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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