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180 Mt Airy Rd, Bernards, N...

Updated Oct 29, 2024

CIG Properties Leases 760 SF Office Space In Basking Ridge, NJ
LEASEDOffice

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

About this deal

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.

On the Map

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Players

Michael S. Taylor

Gantry

Broker

$65M

vol

3 deals

Broker
CP
CIG PropertiesLandlord

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

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