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
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