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30 Independence Boulevard

Signature Acquisitions Purchases 207252 Square Foot Office Building In Warren From Cushman & Wakefield
SOLDOffice

Signature Acquisitions Purchases 207252 Square Foot Office Building In Warren From Cushman & Wakefield

30 Independence Boulevard

Building Size

207,252 SF

Asset Type

Office

Closing

Nov 1, 2024

AI

The transaction involved the sale of a 207,252-square-foot office building located at 30 Independence Boulevard in Warren, NJ. The asset is positioned in a market that supports a diverse tenant base, with 52% of the property leased to six tenants. The property also features extensive renovations and amenities that enhance its appeal in the local submarket.

Summary of transaction details:

Cushman & Wakefield played a significant role in facilitating this transaction, representing the seller and procuring the buyer. In addition, they arranged acquisition financing for the deal, highlighting their comprehensive service in the transaction process.

Players

David Bernhaut

Cushman & Wakefield

Broker

$4.2B

vol

48 deals

Broker

Warren 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