Updated Dec 21, 2023
Colliers Acquires 32,000 SF Office In Chester For $4.2M
2 Mill Ridge Lane, Chester, New Jersey 07930, United States
$4,200,000
$131/SF
Building Size
32,000 SF
Asset Type
Office
Closing
Aug 2, 2022
About this deal
AI
Jacklene Chesler and Patrick Norris of Colliers represented both the buyer and the seller in the sale of 2 & 4 Mill Ridge Lane in Chester. The property, which spans 3.23 acres, is an office building with a total area of 32,000 square feet. The transaction took place on August 3, 2022, with a sale price of $4,200,000 and a price per square foot of $131.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $4,200,000
- Address: 2 & 4 Mill Ridge Lane, Chester
- Market: Chester
- Property Size: 3.23 acres
- Square Footage: 32,000
In this deal, Jacklene Chesler and Patrick Norris of Colliers acted as representatives for both the buyer and the seller. They facilitated the transaction of the office building located at 2 & 4 Mill Ridge Lane in Chester.
Players
Chester 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
3.78%
Cash-on-Cash
-1.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93