Updated Oct 29, 2024
KSG Cherry Hill 950 LLC Acquires Property From 950 NKH LLC In Cherry Hill New Jersey
950 Kings Hwy N, Cherry Hill, NJ, 08034
Building Size
30,000 SF
Asset Type
Office
Closing
Nov 20, 2023
About this deal
AI
The property involved in this transaction is a multitenanted office building located at 950 Kings Hwy N, Cherry Hill, NJ, 08034, within the Cherry Hill Office Center. The building is approximately 30,000 square feet and was 100% leased at the time of sale. The property offers close access to major routes including 70, 73, and 38.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 950 Kings Hwy N, Cherry Hill, NJ, 08034
- Market: Cherry Hill
- Buyer: KSG Cherry Hill 950 LLC
- Seller: 950 NKH LLC
- Buyer's Representative: John T. Mozzillo - Wolf Commercial Real Estate
- Seller's Representative: John T. Mozzillo - Wolf Commercial Real Estate
Wolf Commercial Real Estate announced its role in representing both the buyer and seller in this investment sale. John Mozzillo, senior associate and director of investment sales at WCRE, highlighted the successful sale of this fully occupied office building which features high-quality tenants. The financial terms of the deal remain undisclosed.
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Office
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Cherry Hill Office Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93