facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

New Jersey

/

Office

/

Sale

/

10 Park Avenue

Ravine Development Co. LLC Sells 154777 Square Foot Office In Hanover Township Through JLL
SOLDOffice

Ravine Development Co. LLC Sells 154777 Square Foot Office In Hanover Township Through JLL

10 Park Avenue

Building Size

154,777 SF

Asset Type

Office

Closing

Oct 18, 2024

AI

A 154,777-square-foot Class A office building located at 10 Park Avenue in Hanover Township has been sold in an off-market transaction. The property encompasses 8.69 acres and was previously occupied by MetLife Investment Management. It is strategically situated near New Jersey State Route 24 and I-287.

Summary of transaction details:

The transaction was facilitated by JLL Capital Markets representing the seller, Ravine Development Co. LLC. The brokers involved played a significant role in the successful completion of this transaction.

Players

Jeremy Neuer

JLL

Broker

$1.9B

vol

45 deals

Broker

Morristown Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

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