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1655 Valley Rd, Wayne, NJ, ...

United Yarn Leases Office Space At Wayne Solar Center In Wayne, NJ
LEASEDOffice

United Yarn Leases Office Space At Wayne Solar Center In Wayne, NJ

1655 Valley Rd, Wayne, NJ, 07470

Building Size

2,878 SF

Asset Type

Office

Closing

Nov 22, 2023

AI

Located at 1655 Valley Rd, Wayne, NJ, 07470, the office space in Wayne is part of the Wayne Solar Center, a 156,941-square-foot complex within the Valley Road Corporate Park. The 2,878 square feet of office space has been leased by United Yarn Products Co. from Signature Acquisitions, as they seek to upgrade their workplace from nearby Paterson.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not provided
  • Market: Wayne
  • Landlord: Signature Associates
  • Square Feet: 2,878
  • Tenant: United Yarn Products Co.
  • Tenant's Representative: W. Joshua (Josh) Levering(NAI Capital)

Representing the tenant, W. Joshua Levering from NAI Capital has worked with United Yarn for years and facilitated their move to the modern office space at Wayne Solar Center. The new location features amenities like a cafeteria, underground parking, and panoramic views. The collaborative effort between the owner, designer, and personnel ensured an ultra-modern office environment while reducing overhead costs for United Yarn.

Players

W. Joshua Levering

NAI Global

Broker

7 deals

Broker

Wayne 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