Carisk Partners Inc. And Insurance Company Lease Office Space At 180 Park Avenue Florham Park
180 Park Ave
Building Size
11,671 SF
Asset Type
Office
Closing
Jul 8, 2024
AI
The property involved in this transaction is an office space located at 180 Park Avenue in Florham Park, comprising a total of 11,671 square feet. The asset is under the management of Vision Properties and the Birch Group and features various amenities such as a cafeteria, fitness studio, and outdoor seating, appealing to potential tenants seeking a prime location.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Square Footage: 11,671
- Address: 180 Park Avenue
- Market: Florham Park
- Landlord: Vision Properties & Birch Group
- Tenant: Carisk Partners Inc. & Undisclosed Insurance Company
- Brokers: Brian Decillis, Courtney Rosenkrantz & William O’Keefe - Cushman & Wakefield
Cushman & Wakefield facilitated two long-term leases within the building, securing 7,006 square feet for Carisk Partners Inc. and 4,665 square feet for an undisclosed insurance company. This leasing activity highlights the continued demand for office space in the Florham Park area.
Players
Madison 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