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40 Technology Drive South, ...

Newmark Brokers Sell Warren Office Buildings For $19M To Ivy Realty & Waterfall Asset Management
SOLDOffice

Newmark Brokers Sell Warren Office Buildings For $19M To Ivy Realty & Waterfall Asset Management

40 Technology Drive South, Warren, NJ, USA

$19,000,000

$135/SF

Building Size

140,000 SF

Asset Type

Office

Closing

Sep 28, 2021

AI

The office property located at 40 & 45 Technology Drive in Warren has been sold for a total price of $19,000,000. The property spans a total area of 140,000 square feet, resulting in a price per square foot of $136. The sale was facilitated by Ivy Realty and Waterfall Asset Management.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $19,000,000
  • Address: 40 & 45 Technology Drive
  • Market: Warren
  • Square Footage: 140,000
  • Price per Square Foot: $136

The sale of this office property was handled by the team at Newmark, including brokers Kevin Welsh, Brian Schulz, Jason Emrani, Steven Schultz, and Dan Reider.

Players

Brian Schulz

Newmark

Broker

$1B

vol

15 deals

Broker
Ivy Realty
Ivy RealtyBrokerage
Ivy Realty
Ivy RealtySeller

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

0.83%

Cash-on-Cash

-0.24%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93