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25 Main Street

Cole Schotz Renewed 61582 Square Foot Lease At Court Plaza North In Hackensack
LEASEDOffice

Cole Schotz Renewed 61582 Square Foot Lease At Court Plaza North In Hackensack

25 Main Street

Building Size

61,582 SF

Asset Type

Office

Closing

Oct 2, 2024

AI

The property asset involved in this transaction is an office space located at 25 Main Street in Hackensack, encompassing a total square footage of 61,582. The asset is situated in a market that is characterized by a variety of commercial establishments.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Square Footage: 61,582
  • Address: 25 Main Street
  • Market: Hackensack
  • Landlord: Alfred Sanzari Enterprises
  • Tenant: Cole Schotz
  • Broker: Carolina Gutierrez - Alfred Sanzari Enterprises

Cole Schotz has renewed its lease at Court Plaza North, where it has maintained tenancy since 1986. The law firm employs this location as a strategic hub for its operations, which include over 180 attorneys. The transaction was handled in-house by Alfred Sanzari Enterprises.

Players

Carolina Gutierrez

Alfred Sanzari Enterprises

Broker

8 deals

Broker

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