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299 Ward Street, East Winds...

IBEW Local 94 Acquires Office Building In Hightstown, NJ From CrossState Credit Union Association
SOLDOffice

IBEW Local 94 Acquires Office Building In Hightstown, NJ From CrossState Credit Union Association

299 Ward Street, East Windsor, NJ, USA

$1,999,999

$125/SF

Building Size

16,000 SF

Asset Type

Office

Closing

Feb 18, 2021

AI

IBEW Local 94 has acquired a 16,000 square foot office property located at 299 Ward Street in Hightstown, New Jersey. The property was purchased from CrossState Credit Union Association for a sale price of $1,999,999. The transaction was facilitated by Kevin Coleman and Victor DeJesus from WCRE, representing the buyer, and Jerry Fennelly from NAI Fennelly, representing the seller. The property is situated in the market of Hightstown (East Windsor Township), NJ.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $1,999,999
  • Address: 299 Ward Street
  • Market: Hightstown (East Windsor Township), NJ

IBEW Local 94's acquisition of 299 Ward Street in Hightstown, New Jersey marks a significant development in their real estate portfolio. The buyer was represented by Kevin Coleman and Victor DeJesus of WCRE, while the seller was represented by Jerry Fennelly of NAI Fennelly. This transaction highlights the continued growth and investment opportunities in the Hightstown market.

Players

Jerry Fennelly

Fennelly Associates

Broker

$91.6M

vol

22 deals

Broker
NAI Global
NAI GlobalBrokerage

East Windsor 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

7.93%

Cash-on-Cash

-2.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93