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112 West Park Drive, Mount ...

Prologis Acquires Office Property In Mount Laurel From Veritas Real Estate
SOLDOffice

Prologis Acquires Office Property In Mount Laurel From Veritas Real Estate

112 West Park Drive, Mount Laurel Township, New Jersey 08054, United States

Building Size

114,646 SF

Asset Type

Office

Closing

Mar 1, 2022

AI

An office property located at 112 W. Park Drive in Mount Laurel has been sold in a recent transaction. The property spans across 114,646 square feet and sits on a plot of land measuring 16.82 acres.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not provided
  • Address: 112 W. Park Drive
  • Market: Mount Laurel
  • Square Footage: 114,646
  • Acres: 16.82

The buyer in this transaction is Prologis represented by Chi Osu. On the other hand, the seller is Veritas Real Estate. The deal was facilitated by brokers Kevin Dudley, Brian Fiumara, Elli Klapper, Jeremy Wernick, Mark Silverman, and Charles Berger from Tri-State Investment Properties - CBRE.

Players

Brian Fiumara

CBRE

Broker

$1.6B

vol

24 deals

Broker
Prologis
PrologisBuyer

Mount Laurel 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