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:
- Property Type: Industrial
- Date: January 15, 2021
- Address: 215 S Newman Street, Hackensack, NJ
- Tenant: Pinnacle Product Developers
- Landlord: The Stro Companies
- Tenant's Representative: George Eggers - KenKap Realty
- Landlord's Representative: Jack Shulman - Stro Companies
- Asking Rent: $9.50/ft.
- Square Footage: 14,000
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
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