Updated Dec 5, 2024
Thor Equities Acquires Office Property In Warren, New Jersey For $27.1M
7 Powder Horn Dr, Warren, NJ 07059, USA
$27,100,000
$150/SF
Building Size
180,000 SF
Asset Type
Office
Closing
Oct 13, 2020
About this deal
AI
The office property located at 7 Powder Horn Drive in Warren, New Jersey has been sold in a closed transaction. The property spans approximately 180,000 square feet and was sold for a total price of $27,100,000, resulting in a price per square foot of $117. The transaction took place on October 14, 2020.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $27,100,000
- Address: 7 Powder Horn Drive, Warren, New Jersey
- Market: Warren, New Jersey
- Buyer: Thor Equities
- Seller: Ivy Realty
- Brokers: Kevin Welsh, Brian Schulz, Jason Emrani, Steven Schultz & Dan Reider from NewmarkKF
The purchase was made by Thor Equities, while Ivy Realty sold the property. The deal was facilitated by brokers Kevin Welsh, Brian Schulz, Jason Emrani, Steven Schultz, and Dan Reider from NewmarkKF.
On the Map
$27,100,000
$150/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
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93