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
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