Updated Dec 5, 2024
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
About this deal
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.
On the Map
$19,000,000
$135/SF
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
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93