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1085 Raymond Boulevard, New...

Beijing Ideal Group Leases 40155 Square Feet At 1085 Raymond Boulevard Newark Represented By Chris Conklin
LEASEDOffice

Beijing Ideal Group Leases 40155 Square Feet At 1085 Raymond Boulevard Newark Represented By Chris Conklin

1085 Raymond Boulevard, Newark, NJ...

Building Size

40,155 SF

Asset Type

Office

Closing

Nov 19, 2023

AI

The property involved in this transaction is located at 1085 Raymond Boulevard, Newark, NJ. The landlord, Beijing Ideal Group, has leased a total of 40,155 square feet within the market of Newark. The landlord's representative for this transaction is Chris Conklin.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 1085 Raymond Boulevard, Newark, NJ
  • Landlord: Beijing Ideal Group
  • Landlord's Representative: Chris Conklin
  • Square Feet Leased: 40,155

The U.S. Department of Housing and Urban Development is the tenant involved in this lease transaction at One Newark Center. The leasing process was facilitated by brokers from JLL, who also represented the owner, while the landlord's team worked alongside other brokerage firms throughout the negotiations.

Players

Chris Conklin

Broker

$1.1B

vol

9 deals

Broker

Newark 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