Lincoln Equities Group Leases 27000 Square Feet At 60 Columbia Rd Morristown To Tenant Represented By James Fraser
60 Columbia Rd, Morristown, NJ, 07960
Building Size
27,000 SF
Asset Type
Office
Closing
Aug 2, 2019
AI
The property involved in this transaction is located at 60 Columbia Rd, Morristown, NJ, 07960. It is part of the Morristown market and encompasses a total area of 27,000 square feet. The landlord for this lease is Lincoln Equities Group.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not disclosed
- Address: 60 Columbia Rd, Morristown, NJ, 07960
- Market: Morristown
- Square Feet: 27,000
- Tenant's Representative: James Fraser - DP Real Estate Services
- Landlord: Lincoln Equities Group
This transaction is part of a series of five leases signed by Lincoln Equities Group across three office complexes in Morristown. Collectively, these leases amount to around 100,000 square feet. The new leases follow a multimillion-dollar improvement project aimed at enhancing these suburban office parks for a younger demographic.
Players
Morristown 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