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120 Albany St, New Brunswic...

Updated Oct 29, 2024

SKIDATA Opens US HQ At 120 Albany St In New Brunswick Under Cushman & Wakefield's Guidance
LEASEDOffice

SKIDATA Opens US HQ At 120 Albany St In New Brunswick Under Cushman & Wakefield's Guidance

120 Albany St, New Brunswick, NJ, 08...

Building Size

11,500 SF

Asset Type

Office

Closing

Nov 22, 2023

About this deal

AI

Located at 120 Albany St in New Brunswick, NJ, the office property consists of 11,500 square feet in the New Brunswick market. The tenant, SKIDATA, recently opened its United States Headquarters office at this Class A property, representing a significant move from nearby Hillsborough, NJ.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not Available
  • Tenant's Rep: Warren Searles (Cushman & Wakefield)
  • Landlord: Albany Street Plaza Urban Renewal Llc
  • Square Feet: 11,500

Warren Searles of Cushman & Wakefield played a pivotal role in representing SKIDATA in the search and lease negotiation for the new headquarters. The landlord, represented by Sam Boraie, ensured the successful execution of the deal. Mary DaCosta also contributed as the project manager for the expansion move, highlighting the collaborative effort behind the relocation of SKIDATA to its new office space.

Players

Warren Searles

Cushman & Wakefield

Broker

1 deal

Broker

New Brunswick 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

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