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New Jersey Ballet Company Leases 16,641 SF Commercial Space In Florham Park

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LEASED
Nicholas (Nick) DePaolera
Richard Madison
+ 1

New Jersey

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Property Image
LEASED

New Jersey Ballet Company Leases 16,641 SF Commercial Space In Florham Park

79 Vreeland Rd, Florham Park, NJ, 079...

See Similar Deals
Commercial16,641 SF
Nicholas (Nick) DePaolera
Richard Madison
+ 1
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Summary

NEW JERSEY
Asset Type:Commercial
Price Per Square Foot:$0
Total Square Footage:16,641 SF
Transaction Type:Lease

The property at 79 Vreeland Rd, Florham Park, NJ, 079... is a commercial asset comprising 16,641 square feet. It is the new location for the New Jersey Ballet Company, which is moving from Livingston to this larger space to expand its operations and continue its mission of teaching the community about ballet.

Summary of transation details:

  • Property Type: Commercial
  • Transaction Amount: Not specified
  • Tenant's Rep: Nicholas (Nick) DePaolera (NAI Capital)
  • Landlord's Rep: Richard Mirliss (P & M Advisors)
  • Tenant: New Jersey Ballet Company
  • Landlord: SK Realty Management
  • Square Feet: 16,641

The deal was facilitated by CBRE's Thomas Mallaney representing the landlord, SK Realty Management. On the tenant's side, the NAI James E. Hanson team of Joshua Levering and Nick DePaolera played a key role. Additionally, New Jersey Ballet has enlisted CBRE's project management unit to oversee the construction aspects of the move. Parette Somjen will be responsible for designing the new space, ensuring a smooth transition for the ballet company.

Players

W. Joshua (Josh) Levering
7 deals(201) 280-4429
BROKER


Richard Madison
Colliers
3 deals$11M volume(201) 400-1196
BROKER


LANDLORD

Details

LEASED
IMAGE: 79 Vreeland Rd, Florham Park, NJ, 079... MARKET: Florham Park ASSET TYPE: Commercial TENANT'S REP: Nicholas (Nick) DePaolera(NAI Capital) LANDLORD'S REP: Richard Mirliss(P & M Advisors) BROKERS: W. Joshua (Josh) Levering(NAI Capital), Richard Madison(Colliers International) TENANT: New Jersey Ballet Company LANDLORD: SK Realty Management SQUARE FEET: 16641

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Deal Type
Effective Rent (Annual)

$953,852.08

Total Lease Value

$9,538,520.78

Net Landlord Cash Flow$953,852.08