Opal Holdings Acquires Office Building In Woodbridge, New Jersey For $140M
SOLD
$140,000,000
+ 4
New Jersey
See Similar DealsOffice4,706,920 SF
Sold 08/28/2020
SOLD
Opal Holdings Acquires Office Building In Woodbridge, New Jersey For $140M
194 Wood Ave, Woodbridge,New Jersey
See Similar DealsOffice4,706,920 SF
Sold 08/28/2020
+ 4
Summary
NEW JERSEY
Asset Type:Office
Price Per Square Foot:$29
Total Square Footage:4,706,920 SF
Transaction Type:Sale
The office property located at 194 Wood Ave in Woodbridge, New Jersey has been sold for $140,000,000. This transaction involved a total area of 470,692 square feet, resulting in a price per square foot of $297.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $140,000,000
- Address: 194 Wood Ave, Woodbridge, New Jersey
- Market: Woodbridge, New Jersey
- Square Footage: 470,692
The buyer of the property was Opal Holdings. The seller, AIG, was represented by brokers Kevin Carton, Todd Elfand, Andy Merin, David Bernhaut, Gary Gabriel, Kevin Donner, and Frank DiTommaso.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,466,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$497,390.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$663,671.42
Annual Debt Service$7,964,057.10
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