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216 State Rt 17 N

JLL Secures Long-Term Office Lease For SG Cos. At 216 State Route 17 North In Rochelle Park
LEASEDOffice

JLL Secures Long-Term Office Lease For SG Cos. At 216 State Route 17 North In Rochelle Park

216 State Rt 17 N

Building Size

14,000 SF

Asset Type

Office

Closing

Dec 5, 2023

AI

The multinational footwear and apparel company, SG Cos., has finalized a long-term office lease for approximately 14,000 square feet of office space in Rochelle Park. The three-story, 82,222-square-foot Class A mixed-use building located at 216 State Route 17 North will serve as the new location for SG Cos., which was previously based in Hackensack. The property is owned by Park Avenue BMW.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Market: Rochelle Park
  • Size: 14,000 square feet
  • Address: 216 State Route 17 North

This lease deal was facilitated by JLL, with brokers Colleen Maguire, Frank Recine, and Michael Pietrowicz representing SG Cos. on behalf of the landlord, Matt Feiner of SG Cos. The multinational company, known for its lifestyle brands such as Harley Davidson, Dockers, and IZOD, will now have a new office space that meets its business needs.

Players

Frank Recine

JLL

Broker

$48.1M

vol

7 deals

Broker

Rochelle Park 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