I-FE Apparel Renews Lease At South Hackensack Industrial Building With Alfred Sanzari Enterprises
10 Horizon BLVD, South Hackensack...
Building Size
36,165 SF
Asset Type
Industrial
Closing
Nov 22, 2023
AI
An industrial building located at 10 Horizon Blvd in South Hackensack has been the subject of a lease renewal involving apparel company I-FE Apparel Inc. The tenant, known for its brands PJ Mark and Bleeker & Mercer, has been occupying 36,165 square feet of the 57,225-square-foot property for nearly two decades. The property is strategically positioned approximately two miles from Route 17, catering to tenants with extensive distribution needs.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not Applicable
- Address: 10 Horizon Blvd, South Hackensack
- Market: South Hackensack
- Landlord's Rep: Stephen Jennings (Alfred Sanzari Enterprises)
- Tenant: I-FE Apparel Inc
- Square Feet: 36,165
Stephen Jennings, the Vice President of Leasing and Marketing at Alfred Sanzari Enterprises, represented the ownership in the lease renewal. I-FE Apparel Inc., under the labels PJ Mark and Bleeker & Mercer, draws inspiration from New York culture to design apparel tailored for individuals with active, functional, and trendy lifestyles. The decision to extend the lease for another term highlights the mutually beneficial relationship between the tenant and the landlord, ensuring that I-FE Apparel continues to operate from a space that aligns with its success and growth objectives.
South Hackensack Industrial Market Snapshot
Boundary boundary · Industrial · 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