MH&W International Renews Lease For 13,227 SF Industrial Space In Mahwah
575 Corporate Drive
Building Size
13,227 SF
Asset Type
Industrial
Closing
Nov 17, 2023
AI
Zohar Zisapel Properties Inc. and Radbit Computers Inc. have facilitated the lease renewal of a 13,227-square-foot industrial/flex space located at 575 Corporate Drive in Mahwah. The property boasts a 97.1% occupancy rate, highlighting its popularity in the Bergen County market.
Summary of transaction details
- Property Type: Industrial
- Transaction Date: 11/17/2023
- Address: 575 Corporate Drive
- Market: Mahwah
- Square Footage: 13,227
The lease renewal was completed on behalf of the tenant, MH&W International Corp., by their representative, MRH Realty. The landlords, Zohar Zisapel Properties Inc. and Radbit Computers Inc., were represented by Darren Lizzack and Randy Horning from NAI James E. Hanson. This successful lease renewal ensures the continued high occupancy level of the industrial/flex space at 575 Corporate Drive.
Players
Mahwah 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