Updated Oct 28, 2024
Pennsylvania Real Estate Investment Trust Sells Retail Property In Vineland, NJ For $45M
3849 South Delsea Drive, Vineland, New Jersey 08360, United States
$45,000,000
$47/SF
Building Size
943,897 SF
Asset Type
Retail
Closing
Nov 1, 2022
About this deal
AI
Pennsylvania Real Estate Investment Trust (PREIT), represented by Joseph Coradino, sold a retail property located at 3849 S Delsea Dr in Vineland, NJ. The property spanned across 943,897 square feet and was sold for a total price of $45,000,000, equating to a price per square foot (PPSF) of $48.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $45,000,000
- Address: 3849 S Delsea Dr, Vineland, NJ
- Market: Vineland, NJ
- Square Footage: 943,897
Jospeh Coradino, acting as the representative for PREIT, facilitated the sale of the retail property. The transaction occurred on 11/02/2022.
Players
Vineland 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
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93