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
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