Exan Capital And Mirabaud Group Acquire Warren Corporate Center In Warren, NJ For $150.3M
SOLD
$150,250,000
New Jersey
See Similar DealsOffice315,086 SF
Sold 06/17/2020
SOLD
Exan Capital And Mirabaud Group Acquire Warren Corporate Center In Warren, NJ For $150.3M
287 King George Road, Warren, NJ, USA
See Similar DealsOffice315,086 SF
Sold 06/17/2020
Summary
NEW JERSEY
Asset Type:Office
Price Per Square Foot:$476
Total Square Footage:315,086 SF
Transaction Type:Sale
The Warren Corporate Center, located at 287 & 291 King George Road in Warren, NJ, has been sold in a recent transaction. The office property, consisting of 100 & 200 Warren Corporate Center, spans a total area of 315,086 square feet. The sale took place on June 17, 2021.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $150,250,000
- Price per Square Foot: $477
- Market: Warren, NJ
The buyer of the Warren Corporate Center is Exan Capital, represented by Ignacio Gil-Casares, Arturo Vinueza, and Mirabaud Group. The seller of the property is Rubenstein Partners L.P. and Vision Real Estate Partners. The deal was facilitated by Jaime Fink, Kevin O'Hearn, and Jose Cruz from JLL Capital Markets.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$8,013,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$533,806.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$712,261.65
Annual Debt Service$8,547,139.85
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