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1 Waterview Dr, Shelton, CT...

One Waterview LLC Leases 34200 Square Feet To Tangoe Inc At 1 Waterview Dr Shelton
LEASEDOffice

One Waterview LLC Leases 34200 Square Feet To Tangoe Inc At 1 Waterview Dr Shelton

1 Waterview Dr, Shelton, CT, 06484

Building Size

34,200 SF

Asset Type

Office

Closing

Oct 9, 2017

AI

One Waterview Drive is a 95,000-square-foot Class A office building located at 1 Waterview Dr, Shelton, CT, 06484. The property features 34,200 square feet of leased office space, owned by One Waterview LLC and managed by Mountain Development Corp. The building is set on 9.7 acres with amenities including a renovated glass atrium lobby, cafeteria, fitness center, and outdoor dining patio.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 1 Waterview Dr, Shelton, CT, 06484
  • Market: Shelton
  • Landlord: One Waterview LLC
  • Landlord's Representative: Joseph Jones III, Berkshire Hathaway HomeServices
  • Tenant: Tangoe Inc
  • Tenant Representatives: Dan Spero, Craig Eisenhardt, and Paul Tortora, Jones Lang LaSalle
  • Square Feet Leased: 34,200

Joseph Coci III, partner of Mountain Development Corp, arranged the lease on behalf of the landlord. Tangoe Inc. is relocating its Connecticut operations to this new space, combining locations from Orange and Sandy Hook. The lease provides Tangoe with move-in ready offices that are fully furnished, allowing for an accelerated occupancy process. The building was previously designed for another tenant, Carter’s, further illustrating its readiness for immediate use.

Players

Joseph Jones III

Berkshire Hathaway HomeServices

Broker

$1.6M

vol

2 deals

Broker

Shelton 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