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1140 Us-22, Bridgewater Tow...

R&J Strategic Communications Renews Lease At Bridgewater Office Building With NAI Brokers
LEASEDOffice

R&J Strategic Communications Renews Lease At Bridgewater Office Building With NAI Brokers

1140 Us-22, Bridgewater Township, NJ...

Building Size

Asset Type

Office

Closing

Nov 22, 2023

AI

The office property at 1140 Route 22 East in Bridgewater Township, NJ, was the subject of a lease renewal transaction involving R&J Strategic Communications. The firm has been a tenant at the 95,653-square-foot building since 2005, prompting them to pursue extensive renovations after expanding in recent years. NAI James E. Hanson facilitated the lease renewal, with brokers Joshua Levering and Nick DePaolera representing R&J Strategic Communications. The property is part of the CenterPointe at Bridgewater office park, offering easy access to major interstates and routes.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not disclosed
  • Address: 1140 Route 22 East, Bridgewater Township, NJ
  • Market: Bridgewater
  • Asset Type: Office
  • Brokers: W. Joshua (Josh) Levering(NAI Capital), Nicholas (Nick) DePaolera(NAI Capital)
  • Landlord: Signature Acquisitions

NAI James E. Hanson's Joshua Levering and Nick DePaolera negotiated the renewal for R&J Strategic Communications, working closely with the senior leadership team of the agency and CenterPointe's ownership to facilitate a seamless transition for the firm. R&J Strategic Communications, operating since 1986, offers communication counsel and marketing services to various industries, including healthcare, consumer products, real estate, and nonprofit sectors.

Players

W. Joshua Levering

NAI Global

Broker

7 deals

Broker
SA
Signature AcquisitionsLandlord

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