SOLDRetail
Ryan Moore Of Last Mile Investments Acquires Morris Marketplace From Robert Indig Of DeVimy Equities
191 East Hanover Avenue
Building Size
85,513 SF
Asset Type
Retail
Closing
Feb 13, 2025
AI
The property involved in this transaction is an 85,513-square-foot fully leased retail shopping center located at 191 East Hanover Avenue in Morristown, New Jersey.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 191 East Hanover Avenue
- Market: Morristown
- Asset Size: 85,513 SF
- Buyer: Ryan Moore - Last Mile Investments
- Seller: Robert Indig - DeVimy Equities
- Brokers: Brad Nathanson & JP Colussi - Institutional Property Advisors
Brad Nathanson and JP Colussi from Institutional Property Advisors facilitated the transaction, representing both the buyer and the seller in this deal involving the Morris Marketplace shopping center.
Players
Morristown Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
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