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
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