Center For Resiliency Leases 1,000-Square-Foot Office Suite At 160 Summit Ave, Montvale
160 Summit Avenue
Building Size
1,000 SF
Asset Type
Office
Closing
Dec 12, 2023
AI
The Center for Resiliency has leased a 1,000-square-foot suite at 160 Summit Ave in Montvale, a repositioned office building in the heart of a medical hub.
Summary of transaction details
- Property Type: Office
- Tenant: Center for Resiliency - Dr. Carol Chu-Peralta
- Broker: Frank Recine - JLL
- Address: 160 Summit Avenue, Montvale
- Market: Montvale
- Square Footage: 1,000
- Move-in Date: First quarter of 2024
The Center for Resiliency, led by Dr. Carol Chu-Peralta, will be relocating from their current location at 210 Summit Ave to the new suite at 160 Summit Ave. The psychology practice will join other prominent medical tenants in the area. The move is expected to take place by the first quarter of 2024, providing the center with a new and improved space in a repositioned office building.
Players
Montvale 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