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:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 30 Independence Boulevard
- Market: Warren
- Square Footage: 207,252
- Buyer: Signature Acquisitions
- Brokers: Bill Baunach, David Bernhaut, Frank DiTommaso & Maia Sirabian - Cushman & Wakefield
- Mortgage Broker: Brad Domenico - Cushman & Wakefield
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
Warren Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
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