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18 W Passaic St Rochelle Pa...

NAI James E. Hanson Facilitates 1.75K SF Office Lease In Rochelle Park, NJ With State Farm
LEASEDOffice

NAI James E. Hanson Facilitates 1.75K SF Office Lease In Rochelle Park, NJ With State Farm

18 W Passaic St Rochelle Park, Nj 07662, Usa

$19

$19/SF

Building Size

1,750 SF

Asset Type

Office

Closing

Aug 22, 2023

AI

An office lease for a 1,750-square-foot space at 18 West Passaic Street in Rochelle Park, NJ, has been facilitated by NAI James E. Hanson. The lease transaction involved Passaic Street Associates, LLC as the landlord and State Farm as the tenant. The asking rent for the space was approximately $19.50 per square foot.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: Not mentioned
  • Address: 18 West Passaic Street, Rochelle Park, NJ
  • Market: Rochelle Park

NAI James E. Hanson's brokers, Josh Levering and Jonathan Kristofich, played a significant role in the transaction. Levering and Kristofich represented both the landlord, Passaic Street Associates, LLC, and the tenant, State Farm. Their expertise and negotiation skills contributed to the successful completion of the lease deal.

Players

Jonathan Kristofich

NAI James E. Hanson

Broker

$47.8M

vol

11 deals

Broker
SF
State FarmTenant

Street 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

834894.74%

Cash-on-Cash

-238615.48%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93