Updated Dec 18, 2023
Marcus & Millichap Sells Cherry Hill Office Portfolio For $21.4M With Brokers Brent Hyldahl & Alan Cafiero
1020 North Kings Highway, Cherry Hill, New Jersey 08034, United States
$21,400,000
$116/SF
Building Size
184,000 SF
Asset Type
Office
Closing
Aug 25, 2022
About this deal
AI
Located in Cherry Hill, the office building at 1020, 1030, 1040, 1050, and 1060 Kings Highway North recently changed hands in a closed transaction. The property spans a total area of 184,000 square feet and was sold for a total of $21,400,000, resulting in a price per square foot of $116.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $21,400,000
- Address: 1020, 1030, 1040, 1050 & 1060 Kings Highway North
- Market: Cherry Hill
The transaction was facilitated by Brent Hyldahl and Alan Cafiero from Marcus & Millichap. They represented the parties involved in the deal and helped to secure the successful sale of the property. The involvement of these experienced brokers played a crucial role in closing the transaction.
Players
Cherry Hill Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.74%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93