MFR Enterprises Leases 67,000-Square-Foot Office Space In Leonia With Landlord's Rep Marc Krieger And Tenant's Rep Yoomi Nam
2 Christie Heights Street
Building Size
67,000 SF
Asset Type
Office
Closing
Dec 13, 2023
AI
MFR Enterprises has leased a 67,000-square-foot office property located at 2 Christie Heights Street, Leonia, New Jersey. The property is set to be transformed into an adult day care center named Lily Life, scheduled to open in the fall of 2024.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Square Footage: 67,000 SF
- Address: 2 Christie Heights Street
- Market: Leonia
The landlord, represented by Marc Krieger of Avison Young, secured the deal with MFR Enterprises. Michael Reuten, the representative from MFR Enterprises, worked with Yoomi Nam from Hyst Realty as their trusted advisor during the negotiation process.
Note: MFR Enterprises partnered with Avison Young's Marc Krieger and Yoomi Nam from Hyst Realty to finalize the lease agreement. Lily Life, the adult day care center, is expected to provide valuable services in the Leonia community.
Players
Leonia 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