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215 South Newman Street

Pinnacle Product Developers Leases Industrial Space At 215 S Newman St, Hackensack, NJ
LEASEDIndustrial

Pinnacle Product Developers Leases Industrial Space At 215 S Newman St, Hackensack, NJ

215 South Newman Street

$9

$9/SF

Building Size

14,000 SF

Asset Type

Industrial

Closing

Jan 15, 2021

AI

The industrial property located at 215 S Newman Street in Hackensack, NJ has recently been leased. The tenant, Pinnacle Product Developers, has signed a lease agreement with the landlord, The Stro Companies. The lease was facilitated by George Eggers from KenKap Realty, who represented Pinnacle Product Developers, and Jack Shulman from Stro Companies, who represented the landlord. The leased space spans 14,000 square feet.

Summary of transaction details:

The Stro Companies, the landlord, is currently seeking to purchase industrial warehouse properties in New Jersey. For property submissions or inquiries, please contact Jack Shulman, the Director of Leasing, Acquisitions, & Capital Markets at Stro Companies. His contact information is as follows: (551) 276-5062 and [email protected].

Players

Jack Shulman

The Stro Companies

Broker

$199.2M

vol

12 deals

Broker
The Stro Companies
The Stro CompaniesLandlord

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

1762555.56%

Cash-on-Cash

-503743.79%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93