facebook

traded

+ Submit
Home

/

Deals

/

New Jersey

/

Office

/

Lease

/

125 Chubb Avenue

Sparc Group Expands Lyndhurst Office With 20,000 Sq. Ft. Renewal At 125 Chubb Ave
LEASEDOffice

Sparc Group Expands Lyndhurst Office With 20,000 Sq. Ft. Renewal At 125 Chubb Ave

125 Chubb Avenue

Building Size

92,794 SF

Asset Type

Office

Closing

Nov 21, 2023

AI

Sparc Group LLC, the owner of Brooks Brothers and Reebok, has expanded its office space in Lyndhurst, New Jersey. The company renewed its lease for 20,000 square feet at 125 Chubb Avenue, increasing its total office area to over 90,000 square feet. This transaction represents one of the largest leases in the area during the third quarter of 2023. The property is a five-story office building located near Route 17.

Summary of Transaction Details

  • Property Type: Office
  • Transaction Amount: Not available
  • Square Footage: 92,794
  • Address: 125 Chubb Avenue, Lyndhurst
  • Market: Lyndhurst

The lease transaction was facilitated by Cushman & Wakefield and CBRE. Curtis Foster and Jerry Shifrin from Cushman & Wakefield represented the landlord, while Remy deVarenne from CBRE represented Sparc Group LLC. The deal involved upgrades to the office building to accommodate Sparc Group's expansion.

Players

Curtis Foster

Cushman & Wakefield

Broker

5 deals

Broker

Lyndhurst Office Market Snapshot

Boundary boundary · Office · Lease transactions

Loading comparables…

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