Newmark Brokers Sell Warren Office Buildings For $19M To Ivy Realty & Waterfall Asset Management
SOLD
$19,000,000
+ 2
New Jersey
See Similar DealsOffice140,000 SF
Sold 09/28/2021
SOLD
Newmark Brokers Sell Warren Office Buildings For $19M To Ivy Realty & Waterfall Asset Management
40 Technology Drive South, Warren, NJ, USA
See Similar DealsOffice140,000 SF
Sold 09/28/2021
+ 2
Summary
NEW JERSEY
Asset Type:Office
Price Per Square Foot:$135
Total Square Footage:140,000 SF
Transaction Type:Sale
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
BROKERAGE
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,013,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$67,502.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$90,069.69
Annual Debt Service$1,080,836.32
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