Jiljo Real Estate Holdings Purchases Property At 1139 Spruce Dr Mountainside With Eric Demmers As Seller's Rep
1139 Spruce Dr, Mountainside, NJ, 07...
Building Size
20,000 SF
Asset Type
Office
Closing
Nov 19, 2023
AI
The property involved in the transaction is an office building located at 1139 Spruce Drive in Mountainside, NJ. The two-story building comprises 20,000 square feet. The market is identified as Mountainside, and the sale price is undisclosed.
Summary of transaction details:
- Property Type: Office Building
- Transaction Amount: Undisclosed
- Address: 1139 Spruce Dr, Mountainside, NJ
- Square Footage: 20,000 SF
- Market: Mountainside
- Buyer: Jiljo Real Estate Holdings
- Seller's Representative: Eric Demmers - NAI Capital
- Seller: Delaney Real Estate Holdings
Eric Demmers and Russ Verducci of NAI James E. Hanson facilitated the representation of the seller, Delaney Real Estate Holdings, during this transaction.
Players
Mountainside 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