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110 Allen Rd, Bernards, NJ,...

Updated Oct 29, 2024

Signature Acquisitions Buys Property From The Silverman Group With Buyer's Rep Gary Gabriel
SOLDOffice

Signature Acquisitions Buys Property From The Silverman Group With Buyer's Rep Gary Gabriel

110 Allen Rd, Bernards, NJ, 07920

Building Size

—

Asset Type

Office

Closing

Apr 3, 2018

About this deal

AI

A three-building office park located at 110 Allen Rd, Bernards, NJ 07920 in the Basking Ridge market has been sold. The property consists of 524,260 square feet across three, four-story Class-A buildings. The buildings, previously acquired in separate transactions since 2010, have been rebranded as The Offices at Liberty Corner and are situated immediately off I-78 at Exit 33.

Summary of transaction details:

  • Property Type: Office Park
  • Transaction Amount: Not disclosed
  • Buyer: Signature Acquisitions
  • Seller: The Silverman Group
  • Buyer's Representative: Gary Gabriel-Cushman & Wakefield
  • Other Key Representatives: Andrew Merin, David Bernhaut, Brian Whitmer, Frank DiTommaso II
  • Leasing Agents: Bill Brown, Ben Brenner, MariaGrace Iantosca

The transaction was facilitated by the investment sales team of Cushman & Wakefield’s East Rutherford, N.J. office. The Park features a diverse tenant base with over 40 tenants benefiting from shared amenities. The location experienced occupancy growth from 93% to near-full during the marketing period, demonstrating interest from various companies seeking quality office space in the area.

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Players

Gary Gabriel

Cushman & Wakefield

Broker

$5.1B

vol

61 deals

Broker
SA
Signature AcquisitionsBuyer

Silverman

Silverman Group

Seller

$204.2M

vol

11 deals

Seller

Basking Ridge 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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