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1011 US Route 22

MLM Home Improvement Leases 4,282 SF Office In Bridgewater With Deluccia Commercial Group
LEASEDOffice

MLM Home Improvement Leases 4,282 SF Office In Bridgewater With Deluccia Commercial Group

1011 US Route 22

Building Size

4,282 SF

Asset Type

Office

Closing

Apr 19, 2024

AI

Located at 1011 US Route 22 in Bridgewater, the office asset encompasses 4,282 square feet, offering MLM Home Improvement LLC a strategic location with direct highway access. The property is managed by Hocroft 1011-1031 Associates LLC, providing an ideal setting for the tenant to deliver home improvement services in the Mid-Atlantic region.

Summary of transaction details:

Tim Deluccia of Deluccia Commercial Group facilitated the deal as the tenant's representative, ensuring that MLM Home Improvement LLC secured a five-year commitment for nearly 4,300 square feet of office space at 1011 Route 22. On the other side of the transaction, ownership was represented by Justin Gingeleskie and Peter N. Shikar, closing the agreement for the office property in Bridgewater.

Players

Tim Deluccia

Berkshire Hathaway HomeServices

Broker

$22.7M

vol

15 deals

Broker

Bridgewater Office Market Snapshot

Boundary boundary · Office · 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