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1400 Morris Drive

Arcfield Leases 36000 Square Feet Office Space At 1400 Morris Drive Chesterbrook From Rubenstein Partners
LEASEDOffice

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:

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

Doug Newbert

JLL

Broker

2 deals

Broker
C. Brendan Noonan & Company
C. Brendan Noonan & CompanyBrokerage

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