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
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