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25 Main St, Hackensack, NJ,...

Stephen Jennings Renews Leases For Five Firms At Court Plaza, Hackensack
LEASEDOffice

Stephen Jennings Renews Leases For Five Firms At Court Plaza, Hackensack

25 Main St, Hackensack, NJ, 07601

Building Size

1,480 SF

Asset Type

Office

Closing

Nov 22, 2023

AI

The property at 25 Main St, Hackensack, NJ, 07601, is a 1480 square feet office located in the market of Hackensack. This office space is part of the Court Plaza office complex owned and managed by Alfred Sanzari Enterprises.

Summary of transation details:

The lease renewal at Court Plaza included four law firms and one accounting firm, totaling approximately 5,240 square feet. Stephen C. Jennings, the vice-president of leasing and marketing, negotiated the transactions in-house. This Class A office complex offers a small space program with flexible-term, turnkey office suites catering to smaller legal and professional services firms.

Players

Stephen Jennings

Alfred Sanzari Enterprises

Broker

10 deals

Broker
Alfred Sanzari

Alfred Sanzari

Alfred Sanzari Enterprises

Landlord

$12.2M

vol

19 deals

Landlord

Hackensack 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