Atlantic Federal Credit Union Inc. Acquires Office Building In Springfield For $3.35M
45 Springfield Avenue, Springfield, NJ, USA
$3,350,000
$167/SF
Building Size
20,000 SF
Asset Type
Office
Closing
Feb 9, 2021
AI
Atlantic Federal Credit Union Inc. has purchased an office property located at 45 Springfield Ave in Springfield. The transaction took place on February 10, 2021, with a sale price of $3,350,000. The office building spans approximately 20,000 square feet, resulting in a price per square foot of $168. The property is located in the Springfield market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $3,350,000
- Address: 45 Springfield Ave, Springfield
- Market: Springfield
- Buyer: Atlantic Federal Credit Union Inc.
- Brokers: Sean Brady & Joseph Harkins - Cushman & Wakefield
- Square Footage: 20,000
- Price per Square Foot: $168
The deal was facilitated by brokers Sean Brady and Joseph Harkins from Cushman & Wakefield. They represented Atlantic Federal Credit Union Inc. in the transaction.
Players
Springfield 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
4.74%
Cash-on-Cash
-1.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93