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
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