Arcfield Leases 36000 Square Feet Office Space At 1400 Morris Drive Chesterbrook From Rubenstein Partners
1400 Morris Drive
Building Size
36,000 SF
Asset Type
Office
Closing
Nov 12, 2024
AI
The lease transaction involves a 36,000-square-foot office space located at 1400 Morris Drive in Chesterbrook, PA. The property is part of the 1.1 million-square-foot Chesterbrook development.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Landlord: Rubenstein Partners
- Tenant: Arcfield
- Landlord's Representative: Doug Newbert, Mike MacCrory & Whitney Hunter - JLL
- Tenant's Representative: Gina Brennan & John Shelly - Cushman & Wakefield
- Leased Space: Entire third floor and part of the first floor
Representatives from JLL handled the leasing for the landlord, while Cushman & Wakefield represented the tenant, Arcfield, known as a defense contractor. This arrangement showcases the involvement of both firms in facilitating the lease agreement for the office space.
Players
Chesterbrook Office Market Snapshot
Boundary boundary · Office · Lease 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