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Colliers Brokers $11.17M Sale Of Woodbridge Office Building To NY Investor

Property Image
SOLD
$11,170,000
Jacklene Chesler
Philippe Jomphe
+ 1

New Jersey

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Office112,705 SF
Sold 06/21/2024
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Property Image
SOLD

Colliers Brokers $11.17M Sale Of Woodbridge Office Building To NY Investor

900 Route 9 N

See Similar Deals
Office112,705 SF
Sold 06/21/2024
Jacklene Chesler
Philippe Jomphe
+ 1
Contact now

Summary

NEW JERSEY
Asset Type:Office
Price Per Square Foot:$99
Total Square Footage:112,705 SF
Transaction Type:Sale

The Woodbridge office building "900 on 9" located at 900 Route 9 N was sold for $11,170,000. The property spans 112,705 square feet and is situated in the Woodbridge market.

Summary of transaction details:

Colliers played a pivotal role in brokering the sale of the "900 on 9" office building. The transaction was spearheaded by the team of brokers consisting of Jacklene Chesler, Matthew Cohen, Patrick Norris, and Philippe Jomphe. The property, despite being 54% occupied at the time of sale, garnered substantial interest in the market leading to its successful purchase by a private investor based in New York.

Players

Jacklene Chesler
24 deals$195.8M volume
BROKER

Patrick Norris
Colliers
17 deals$141.8M volume(973) 299-3010
BROKER

Philippe Jomphe
Colliers
4 deals$78.2M volume(973) 299-3078
BROKER

Matthew Cohen
Colliers
3 deals$21.5M volume(609) 206-0822
BROKER

Details

SOLD
IMAGE: Carey Tajfel, Jacklene Chesler, Matthew Cohen, Patrick Norris & Philippe Jomphe DATE: 06/21/2024 ADDRESS: 900 Route 9 N MARKET: Woodbridge ASSET TYPE: Office SELLER: Carey Tajfel - TFE Properties BROKERS: Jacklene Chesler, Matthew Cohen, Patrick Norris (@patrickcnorris) & Philippe Jomphe - Colliers (@ColliersInternational) SALE PRICE: $11,170,000 SF: 112,705 ~ PPSF: $99 NOTE: Colliers brokered the $11.17 million sale of the Woodbridge office building "900 on 9" on behalf of TFE Properties. The 112,705-square-foot building, 54% occupied at sale time, attracted significant interest and was bought by a New York-based private investor.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$595,733.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$39,684.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,951.50
Annual Debt Service$635,417.98