Regional Cancer Care Associates Leases 5499 Square Feet At 300 Frank W Burr Blvd In Teaneck
300 Frank W Burr BLVD, Teaneck, NJ...
Building Size
5,499 SF
Asset Type
Office
Closing
Nov 19, 2023
AI
The property involved in this transaction is located at 300 Frank W Burr Blvd, Teaneck, NJ. It encompasses 5,499 square feet and is situated within the Glenpointe campus, which is a flagship office space developed by Alfred Sanzari Enterprises in Teaneck market.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not disclosed
- Address: 300 Frank W Burr Blvd, Teaneck, NJ
- Market: Teaneck
- Tenant: Regional Cancer Care Associates
- Landlord: Alfred Sanzari Enterprises
- Tenant's Representative: Jonathan Marks - Cresa
- Broker: Dennis Gralla - Cresa
This transaction showcases the role of Cresa as the representative for the tenant, Regional Cancer Care Associates, which is one of the largest oncology physician networks in the United States. Alfred Sanzari Enterprises was represented by brokers from Newmark, including Jeff Schotz, Peter Rossi, Dan Reider, Peter Kasparian, and David Simson. This deal emphasizes the successful relocation of the oncology network from Court Plaza in Hackensack to their new office in Glenpointe Centre West.
Players
Teaneck 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