Updated Dec 4, 2024
KPE II LLC Acquires Plainsboro Plaza Retail Center For $42.2M
10 Schalks Crossing Road
$42,200,000
$192/SF
Building Size
218,718 SF
Asset Type
Retail
Closing
Apr 4, 2024
About this deal
AI
The Plainsboro Plaza, a significant retail center located at 10 Schalks Crossing Road in Plainsboro, New Jersey, has been sold for $42.2 million. The property spans 218,718 square feet and was acquired by KPE II LLC from Onyx Equities. The asset features prominent tenants such as CVS and SuperFresh.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $42,200,000
- Buyer: KPE II LLC
- Seller: John Saraceno, Jr. - Onyx Equities
- Address: 10 Schalks Crossing Road
- Market: Plainsboro
- Square Footage: 218,718
John Saraceno, Jr. was the seller, representing Onyx Equities in the transaction. On the buyer's side, KPE II LLC was assisted by their representative.
On the Map
$42,200,000
$192/SF
Retail
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93