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
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:
- Property Type: Office Building
- Transaction Amount: Undisclosed
- Address: 201 Littleton Rd, Morris Plains, NJ
- Market: Morris Plains
- Square Footage: 88,910
- Seller: Mack-Cali Realty Corp.
- Buyer: Chopp Holdings
- Seller's Representatives: Kubby Tischler (Cushman & Wakefield), Andrew (Andy) Merin (Cushman & Wakefield), Andrew "Andy" Schwartz (Cushman & Wakefield)
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.
Players
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