UBS Financial Services Signs 10-Year Lease At 140-148 Broad Street In Red Bank
140 Broad St Red Bank, NJ 07701, USA
$27
Building Size
—
Asset Type
Office
Closing
May 31, 2023
AI
UBS Financial Services has signed a 10-year lease for a 20,715-square-foot space at the redevelopment project located at 140-148 Broad Street in Red Bank. The property, owned by Denholtz Properties, offers a modern and upscale experience for UBS clients and employees. The lease was facilitated by CBRE, Cushman & Wakefield, and Denholtz Properties.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: N/A
- Address: 140-148 Broad Street
- Market: Red Bank
- Asking Rent: $27/ft.
- Square Footage: 20,715
- Lease Terms: 10-year
The landlord, Denholtz Properties, was represented by Suzanne Macnow, Alexandra Anagnostou, Justin Ridolfo from CBRE, and Kris Hurlbut from Denholtz. On the other hand, UBS Financial Services was represented by Josh Cohen and Bill Brown from Cushman & Wakefield.
Players
Red Bank 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
587518.52%
Cash-on-Cash
-167914.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93