$50.5 Million Sale Of Property At 600 Horizon Dr In Hamilton Township With Kevin Welsh As Seller's Rep
SOLD
$50,500,000
+ 1
Office
SOLD
$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...
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+ 1
Summary
OHIO
Asset Type:Office
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,693,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$179,415.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$239,395.76
Annual Debt Service$2,872,749.17
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