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1455 Broad Street and 200, ...

ERCT Capital Group Leases 15186 Square Feet At 1455 Broad Street In Whiteford
LEASEDOffice

ERCT Capital Group Leases 15186 Square Feet At 1455 Broad Street In Whiteford

1455 Broad Street and 200, 300, 400...

Building Size

15,186 SF

Asset Type

Office

Closing

Nov 19, 2023

AI

The lease involves a 15,186-square-foot office space located at 1455 Broad Street within the Broadacres Office Park in Bloomfield, New Jersey. This office property is part of a larger 400,000-square-foot development in the Whiteford market, leased by the tenant, Technogym, engaged in the fitness industry.

Summary of transaction details:

  • Property Type: Office Lease
  • Transaction Amount: Not specified
  • Address: 1455 Broad Street
  • Market: Whiteford
  • Landlord: ERCT Capital Group
  • Landlord's Representatives: Dan Reider - Newmark, Jeff Schotz - Newmark, Peter Kasparian - Newmark
  • Tenant: Technogym
  • Square Feet: 15,186

The deal was facilitated by representatives from Newmark, specifically Jeff Schotz, Dan Reider, and Peter Kasparian, who were instrumental in the negotiation process on behalf of the landlord, ERCT Capital Group.

Players

Dan Reider

Newmark

Broker

$146.1M

vol

14 deals

Broker
EG
ERCT Capital GroupLandlord

Whiteford 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