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290 West Mount Pleasant Avenue

CBRE Represents Eastman Companies In Office Lease Transactions At The Eisenhower
LEASEDOffice

CBRE Represents Eastman Companies In Office Lease Transactions At The Eisenhower

290 West Mount Pleasant Avenue

Building Size

10,200 SF

Asset Type

Office

Closing

May 16, 2024

AI

The property at 290 West Mount Pleasant Avenue in Livingston is an office asset spanning 10,200 square feet. The lease agreement, finalized on May 16, 2024, involved multiple tenants, including Sobel Tinari, The Learning Experience, Cystic Fibrosis Foundation, and Caerus 1 US Inc. The landlords in this transaction were Peter E. Schofel from Eastman Companies and Neil Fox from P3RE Properties.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 290 West Mount Pleasant Avenue
  • Market: Livingston
  • Tenants: Sobel Tinari, The Learning Experience, Cystic Fibrosis Foundation, Caerus 1 US Inc
  • Landlords: Peter E. Schofel - Eastman Companies; Neil Fox - P3RE Properties
  • Brokers: Daniel N. Casey, Erin Wenzler, Jonathan Meisel - CBRE; Mark Richardson - JLL

CBRE, through brokers Daniel N. Casey, Erin Wenzler, and Jonathan Meisel, represented Eastman Companies and P3RE Properties in negotiating the leasing agreements at The Eisenhower, a Class A office complex in Livingston. Additionally, JLL's Mark Richardson was involved in the transactions, totaling 10,200 square feet, which comprised three new leases and one renewal. The successful conclusion of these deals underscores the collaborative efforts of the involved brokerage teams in securing favorable outcomes for both the landlords and tenants.

Players

Daniel N. Casey

CBRE

Broker

6 deals

Broker

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