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:
- Property Type: Office
- Transaction Amount: Not provided
- Landlord: Alfred Sanzari Enterprises
- Landlord's Representative: Stephen Jennings (Alfred Sanzari Enterprises)
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
Hackensack Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
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