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290 West Mount Pleasant Avenue

RWJBarnabas Health Leases 12,000 SF Office Space In Livingston
LEASEDOffice

RWJBarnabas Health Leases 12,000 SF Office Space In Livingston

290 West Mount Pleasant Avenue

Building Size

11,667 SF

Asset Type

Office

Closing

Oct 23, 2023

AI

The Eastman Cos. has signed a long-term lease agreement with RWJBarnabas Health for 12,000 square feet of office space in Livingston at 290 West Mount Pleasant Ave. The property, spanning 11,667 square feet, offers modern amenities and convenient access to highways and airports. The office space will serve as administrative offices and a training facility for RWJBarnabas Health.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: Not disclosed
  • Address: 290 West Mount Pleasant Avenue, Livingston
  • Market: Livingston
  • Square Footage: 11,667

The landlord, Eastman Cos., represented by Eric Maurer, has successfully secured RWJBarnabas Health as the tenant for the office space. The tenant is represented by Mark E. Manigan. On behalf of the landlord, CBRE's Daniel N. Casey, Erin Wenzler, and Jonathan Meisel acted as the landlord's representatives in the deal. Meanwhile, Richel Commercial Brokerage acted as the tenant's representative. The lease will provide RWJBarnabas Health with the necessary space to carry out their administrative functions and training activities.

Players

Daniel N. Casey

CBRE

Broker

6 deals

Broker
EC
Eastman CosLandlord

Livingston 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