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
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