Guardian Realty Acquires Property At 1 Independence Way Princeton For $19.5M From Normandy Real Estate Partners
SOLD
$19,500,000
New Jersey
See Similar DealsOffice113,998 SF
SOLD
Guardian Realty Acquires Property At 1 Independence Way Princeton For $19.5M From Normandy Real Estate Partners
1 Independence Way, Princeton, NJ, 0...
See Similar DealsOffice113,998 SF
Summary
NEW JERSEY
Asset Type:Office
Price Per Square Foot:$171
Total Square Footage:113,998 SF
Transaction Type:Sale
1 Independence Way is a 113,998-square-foot office property located in Princeton, New Jersey. The property was sold for $19,500,000.00 and was 100 percent leased at the time of the transaction to S&P Global and Trimble MAPS.
Summary of transation details:
- Property Type: Office
- Transaction Amount: $19,500,000.00
- Address: 1 Independence Way, Princeton, NJ
- Market: Princeton
- Buyer: Guardian Realty
- Seller: Normandy Real Estate Partners
- Brokers: Kevin Welsh (Newmark), Brian Schulz (Newmark), Chuck Kohaut (Newmark), Steve Tolkach (Newmark)
The brokerage team from Newmark, including Kevin Welsh, Brian Schulz, Chuck Kohaut, and Steve Tolkach, represented Normandy Real Estate Partners in the transaction while facilitating the sale to Guardian Realty.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,039,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$69,279.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$92,439.95
Annual Debt Service$1,109,279.38
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