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:
- Property Type: Office
- Transaction Amount: Not specified
- Landlord: Hocroft 1011-1031 Associates LLC
- Tenant: MLM Home Improvement LLC
- Tenant's Rep: Tim Deluccia - Deluccia Commercial Group - Berkshire Hathaway HomeServices
- Brokers: Justin Gingeleskie - The KRE Group; Peter Shikar - CBRE
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
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