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
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