CIG Properties Leases 760 SF Office Space In Basking Ridge, NJ
180 Mt Airy Rd, Bernards, NJ, 07920
Building Size
760 SF
Asset Type
Office
Closing
Nov 20, 2023
AI
The transaction involves a lease for an office space located at 180 Mt Airy Rd, Bernards, NJ, 07920, within the Basking Ridge market. The property features 760 square feet and is situated in a two-building complex that spans 100,000 square feet along Interstate 287.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Square Feet: 760
- Address: 180 Mt Airy Rd, Bernards, NJ, 07920
- Market: Basking Ridge
- Landlord: CIG Properties
- Landlord's Representative: Michael S. Taylor-Gantry
- Tenant: Cornerstone Mortgage Group Inc.
- Leasing Agents: Rick Genthe and Sean O’Brien
Lincoln Property Co. represented the landlord, CIG Properties, in the leasing transaction. Michael Taylor, a senior vice president, facilitated the deal, highlighting the commitment of Lincoln Property Company and CIG Properties to meet tenant needs efficiently. The facility's strategic location near essential transportation routes was also emphasized.
Players
Basking Ridge 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