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
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