The Birch Group Acquires Office Building In Princeton, NJ For $47.3M
SOLD
$47,300,000
New Jersey
See Similar DealsOffice213,110 SF
Sold 07/23/2020
SOLD
The Birch Group Acquires Office Building In Princeton, NJ For $47.3M
600 Alexander Park Drive, Princeton, NJ, USA
See Similar DealsOffice213,110 SF
Sold 07/23/2020
Summary
NEW JERSEY
Asset Type:Office
Price Per Square Foot:$222
Total Square Footage:213,110 SF
Transaction Type:Sale
The office property located at 600 & 700 Alexander Park Dr in Princeton, NJ was recently sold. The transaction took place on July 23, 2021.
Summary of transaction details:
- Property Type: Office
- Sale Price: $47,300,000
- Square footage: 213,110
- Price per square foot: $222
- Address: 600 & 700 Alexander Park Dr, Princeton, NJ
- Market: Princeton, NJ
The buyer of this property was The Birch Group, represented by Mark Meisner. They acquired the office asset from BentallGreenOak. The broker involved in the deal was Kevin O'Hearn LL.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,522,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$168,046.92
Cash-on-Cash Return-1.27%
Monthly Debt Service$224,226.13
Annual Debt Service$2,690,713.58
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