Brother International Corp. Extends Lease At 200 Crossing Boulevard Bridgewater For 83,000 Square Feet
200 Crossing Boulevard
Building Size
82,763 SF
Asset Type
Office
Closing
Jul 16, 2024
AI
The property asset involved in this transaction is an office space located at 200 Crossing Boulevard in Bridgewater. The total square footage of the property is 82,763 square feet. The asset is owned by Alexander Properties.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Landlord: Alexander Properties
- Tenant: Don Cummins - Brother International Corp.
- Landlord's Representative: William McCaffrey - Avison Young
- Tenant's Representatives: Callie Lloyd, Jonathan Ortiz & Scott Lesh - JLL
- Date of Transaction: 07/16/2024
The lease has been extended for nearly five years, allowing Brother International Corp. to occupy expanded space on the fifth and sixth floors. The agreement follows a comprehensive space utilization study conducted by JLL to improve workspace efficiency and enhance the employee experience through modern amenities and collaborative areas.
Players
Bridgewater 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