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140 Littleton Rd, Parsippan...

Colliers International's Matthew Brown And Frank Summers Represent Buyer In $3.5M Parsippany Sale
SOLDOffice

Colliers International's Matthew Brown And Frank Summers Represent Buyer In $3.5M Parsippany Sale

140 Littleton Rd, Parsippany-Troy Hills...

$3,500,000

$114/SF

Building Size

30,459 SF

Asset Type

Office

Closing

Nov 20, 2023

AI

The transaction involved the sale of a multi-tenant office building located at 140 Littleton Road in Parsippany-Troy Hills. The property was constructed in the mid-1980s and has a total area of 30,459 square feet. The sale price was $3,500,000. The building was 95 percent occupied at the time of the sale, with occupants including companies in the finance, technology, and medical sectors.

Summary of transaction details:

  • Property Type: Multi-tenant office building
  • Transaction Amount: $3,500,000
  • Address: 140 Littleton Rd, Parsippany-Troy Hills
  • Market: Parsippany
  • Square Footage: 30,459
  • Buyer's Representative: Matthew Brown - Colliers International, Frank Summers - Colliers International
  • Seller's Representative: Jacklene Chesler - Colliers International
  • Buyer: Unknown
  • Seller: Unknown
  • Occupancy Rate: 95 percent

Colliers International played a key role in this transaction, with three representatives involved: Jacklene Chesler represented the seller, while Matthew Brown and Frank Summers represented the buyer. Both the buyer and seller requested anonymity throughout the process.

Players

Jacklene Chesler

Colliers

Broker

$209.4M

vol

25 deals

Broker

Parsippany 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

4.53%

Cash-on-Cash

-1.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93