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191 East Hanover Avenue

Ryan Moore Of Last Mile Investments Acquires Morris Marketplace From Robert Indig Of DeVimy Equities
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

Brad Nathanson

Institutional Property Advisors

Broker

$488.2M

vol

15 deals

Broker

Morristown Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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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