Updated Oct 29, 2024
Silverang Hallowell Development Sells Norristown Office Property For $22.5M - Eric Grad (Colliers)
1430 Dekalb Street
$22,500,000
$85/SF
Building Size
262,000 SF
Asset Type
Office
Closing
Jan 13, 2023
About this deal
AI
The property involved in this closed transaction is an office located at 1430 Dekalb St, Norristown, Pennsylvania. The property sits on 3 acres of land.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $22,500,000
- Market: Norristown, Pennsylvania
- Seller: Silverang Hallowell Development
- Brokers: Eric Grad - Colliers; Flynn Co.; CBRE
- Date: 01/13/2023
- Square Footage: 262,000
- Price per Square Foot: $86
The seller of the property was Silverang Hallowell Development. The brokers involved in this deal were Eric Grad from Colliers, Flynn Co., and CBRE.
Players
Norristown 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
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93