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.
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