Mack-Cali Realty Corp Leases 65000 Square Feet At 3 Sylvan Way In Parsippany
3 Sylvan Way, Parsippany-Troy Hills, N...
Building Size
65,000 SF
Asset Type
Office
Closing
Nov 19, 2023
AI
The property involved in this lease transaction is located at 3 Sylvan Way, Parsippany-Troy Hills, New Jersey. It has a total area of 65,000 square feet and is situated in the Parsippany market. The landlord for this transaction is Mack-Cali Realty Corp.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not disclosed
- Address: 3 Sylvan Way, Parsippany-Troy Hills, NJ
- Market: Parsippany
- Square Feet: 65,000
- Landlord's Rep: Chris Conklin, David Stifelman - JLL
- Landlord: Mack-Cali Realty Corp
This transaction involves representation from Chris Conklin and David Stifelman of JLL acting on behalf of Mack-Cali Realty Corp as the landlord's representatives in this lease agreement.
Players
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