8 Forrestal RdPrinceton, NJ 08540

For Sale
Call for price

Core+ Investment, 100% Leased, 39,904 SF

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a newly constructed, Class A, 39,904-square-foot medical office building in the prestigious Princeton Forrestal Center, New Jersey. Located directly across from Penn Medicine Princeton Medical Center and adjacent to Princeton University's research campus, this two-story building boasts 13 tenants with a diverse range of complementary medical specialties. The property is 100% occupied with a weighted average lease term of eight years, featuring NNN leases and built-in annual rent increases. The staggered lease expirations provide long-term stability and predictable cash flow. This core-plus investment offers a compelling 6.00% cap rate and a land value of $450-$451 per square foot. The property's prime location within the highly sought-after Princeton Forrestal Center, coupled with its strong tenant roster and long-term lease structure, makes it an ideal addition to any sophisticated real estate portfolio. The building's modern design and amenities cater to the needs of medical professionals and their patients, ensuring sustained occupancy and rental income. This is a rare opportunity to acquire a high-quality, fully leased medical office building in one of the most desirable locations in the Northeast. The property's strategic location, coupled with its strong financial performance, makes it a truly exceptional investment opportunity.

Highlights

  • Class A, 39,904 SF medical office building in Princeton, NJ.
  • 100% occupied, multi-tenant building with 13 tenants.
  • NNN leases with built-in rent increases and a weighted average lease term (WALT) of 8 years.
  • Located in the Princeton Forrestal Center, adjacent to Penn Medicine Princeton Medical Center.
  • Offered at $450-$451/SF (Land Value), with a 6.00% cap rate.

Property Details for 8 Forrestal Rd

Property type
Other office properties, Medical offices
Square Feet
39,904 SF
Class
A
Buildings
1
Stories
2

Location Insight

City
Princeton
County
Middlesex
State
New Jersey
Latitude
40.3434939
Longitude
-74.6169099
8 Forrestal Rd, Princeton, New Jersey

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8 Forrestal Rd
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