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201 Littleton Rd, Morris Pl...

Updated Oct 29, 2024

Chopp Holdings Acquires Property At 201 Littleton Rd Morris Plains With Seller's Rep Cushman & Wakefield
SOLDOffice

Chopp Holdings Acquires Property At 201 Littleton Rd Morris Plains With Seller's Rep Cushman & Wakefield

201 Littleton Rd, Morris Plains, NJ, 07...

Building Size

88,910 SF

Asset Type

Office

Closing

Mar 7, 2019

About this deal

AI

The property involved in this transaction is a three-story office building located at 201 Littleton Road, Morris Plains, NJ. It encompasses 88,910 square feet and is situated on a nearly 17-acre site. At the time of the sale, the property was 44 percent leased to tenants, including the State of New Jersey. The sales price was not disclosed.

Summary of transaction details:

Chopp Holdings, a local investor, was the buyer involved in the transaction. Cushman & Wakefield represented the seller, Mack-Cali Realty Corp., with a team composed of Kubby Tischler, Andrew Merin, and Andrew Schwartz playing key roles in facilitating the deal.

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Players

Andrew Merin

Cushman & Wakefield

Broker

$3.1B

vol

35 deals

Broker
CH
Chopp HoldingsBuyer

Morris Plains 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

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