Alfred Sanzari Enterprises Renews Orthofeet, Inc.'s Industrial Lease At 335 Chestnut Street In Norwood, NJ
335 Chestnut St Norwood, NJ 07648, USA
$18
$18/SF
Building Size
71,870 SF
Asset Type
Industrial
Closing
Aug 14, 2023
AI
Alfred Sanzari Enterprises has renewed Orthofeet, Inc.'s lease for 71,870 square feet of industrial space at 335 Chestnut Street in Norwood, NJ. The property, owned by Sanzari since 1969, offers a fitting location for Orthofeet's therapeutic shoe manufacturing operations due to its accessibility and convenience. The lease was secured at an asking rent of $18 per square foot.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 335 Chestnut Street, Norwood, NJ
- Market: Norwood
Stephen Jennings, representing Alfred Sanzari Enterprises, facilitated the lease renewal for Orthofeet, Inc. Daniel Whitehead, the tenant's representative from Resource Realty, was involved in the negotiations. The agreement allows Orthofeet, Inc. to continue its therapeutic shoe manufacturing operations in the industrial space provided by Alfred Sanzari Enterprises.
Players
Norwood Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
881277.78%
Cash-on-Cash
-251871.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93