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3-5 Sylvan Way

Einhorn, Barbarito, Frost, Botwinick, Nunn & Musmanno Signs 24,947-SF Lease At The Arbors Parsippany
LEASEDOffice

Einhorn, Barbarito, Frost, Botwinick, Nunn & Musmanno Signs 24,947-SF Lease At The Arbors Parsippany

3-5 Sylvan Way

Building Size

24,947 SF

Asset Type

Office

Closing

Dec 3, 2024

AI

The property asset involved in this transaction is an office space located at 3-5 Sylvan Way in Parsippany, encompassing a total of 24,947 square feet. This asset is part of Onyx Equities' 60-acre campus, which has recently experienced new leasing activity, catering to tenants with upgraded amenities and collaborative spaces.

Summary of transaction details:

Einhorn, Barbarito, Frost, Botwinick, Nunn & Musmanno signed a lease marking a nearly 50% expansion of its office space. The deal reflects Onyx Equities' continued efforts to attract tenants to its campus, which has seen over 46,000 square feet of new leasing activity recently.

Players

David DeMatteis

Cushman & Wakefield

Broker

11 deals

Broker

Parsippany 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