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210 Woodport Road

Regional Cancer Care Associates Leases 10,000 Square Feet Office Space In Sparta From Berardi Building Company
LEASEDOffice

Regional Cancer Care Associates Leases 10,000 Square Feet Office Space In Sparta From Berardi Building Company

210 Woodport Road

Building Size

10,000 SF

Asset Type

Office

Closing

Nov 12, 2024

AI

The property asset involved in this transaction is an office space located at 210 Woodport Road in Sparta, consisting of 10,000 square feet. The landlord is Berardi Building Company, while the tenant is Regional Cancer Care Associates (RCCA), which has entered into a lease agreement for a build-to-suit space, significantly increasing its operational space compared to its previous location.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not disclosed
  • Address: 210 Woodport Road
  • Market: Sparta
  • Landlord: Berardi Building Company
  • Tenant: Terrill Jordan - Regional Cancer Care Associates (RCCA)
  • Landlord's Representative: John Schilp - NAI James E. Hanson
  • Tenant's Representatives: Dennis Gralla & Jonathan Marks - Cresa

This lease marks a significant milestone for RCCA as it embarks on a regional expansion strategy aimed at enhancing access to advanced oncology services. The involvement of real estate representatives, John Schilp from NAI James E. Hanson for the landlord and Dennis Gralla and Jonathan Marks from Cresa for the tenant, facilitated this transaction.

Players

John Schilp

NAI Global

Broker

$18.5M

vol

6 deals

Broker

Sparta 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