Updated Oct 29, 2024
Mountain Development Corp. Buys Property From Waterfall Asset Management At 30 Technology Dr S Warren
30 Technology Dr S, Warren, NJ, 07059
Building Size
95,111 SF
Asset Type
Office
Closing
Nov 20, 2023
About this deal
AI
The property involved in this transaction is a 95,111-square-foot office building located at 30 Technology Drive S in Warren, NJ. Constructed in 1987, the Class B property was 92 percent leased at the time of the sale to tenants in the medical, engineering, and technology sectors. The market for this property is Warren, NJ.
Summary of transaction details:
- Property Type: Office Building
- Transaction Amount: Undisclosed
- Address: 30 Technology Dr S, Warren, NJ, 07059
- Market: Warren
- Seller: Waterfall Asset Management
- Buyer: Mountain Development Corp. (MDC)
- Seller's Representative: Kevin Welsh & Jason Emrani - Newmark
- Leased Percentage: 92%
- Year Built: 1987
The transaction was facilitated by Kevin Welsh, Brian Schulz, and Jason Emrani of Newmark, who represented the seller, a joint venture between Ivy Realty and Waterfall Asset Management. The team was also responsible for procuring the buyer, Mountain Development Corp.
On the Map
Office
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Players
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