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335 Chestnut St Norwood, NJ...

Alfred Sanzari Enterprises Renews Orthofeet, Inc.'s Industrial Lease At 335 Chestnut Street In Norwood, NJ
LEASEDIndustrial

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

Stephen Jennings

Alfred Sanzari Enterprises

Broker

10 deals

Broker
Alfred Sanzari

Alfred Sanzari

Alfred Sanzari Enterprises

Landlord

$12.2M

vol

19 deals

Landlord

Norwood 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

881277.78%

Cash-on-Cash

-251871.89%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93