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
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