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600 Horizon Dr, Hamilton To...

$50.5 Million Sale Of Property At 600 Horizon Dr In Hamilton Township With Kevin Welsh As Seller's Rep
SOLDOffice

$50.5 Million Sale Of Property At 600 Horizon Dr In Hamilton Township With Kevin Welsh As Seller's Rep

600 Horizon Dr, Hamilton Township, N...

$50,500,000

Building Size

Asset Type

Office

Closing

Nov 20, 2023

AI

A two-building office portfolio located at 600 Horizon Dr, Hamilton Township, N.J. has been sold for $50,500,000. The properties are leased to Verizon Communications and AAA, with a total square footage of 0. The market for this transaction is Hamilton.

Summary of transaction details:

  • Property Type: Office Portfolio
  • Transaction Amount: $50,500,000.00
  • Address: 600 Horizon Dr, Hamilton Township, N.J.
  • Market: Hamilton
  • Seller: Mack-Cali Realty
  • Seller's Rep: Kevin Welsh (Newmark)
  • Buyer: Unknown
  • Other Properties: 700 Horizon Drive leased to AAA

The transaction was brokered by NKF Capital Markets, with key individuals involved including Steven Schultz, Steve Tolkach, Tony Georgiev, and Brian Schulz, alongside Kevin Welsh representing the seller in this deal.

Players

Kevin Welsh

Newmark

Broker

$1.1B

vol

21 deals

Broker

Hamilton Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.31%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93