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300 Frank W Burr Boulevard

Interstate Waste Services Leases 30,000 Square Feet Office Space In Teaneck From Alfred Sanzari Enterprises
LEASEDOffice

Interstate Waste Services Leases 30,000 Square Feet Office Space In Teaneck From Alfred Sanzari Enterprises

300 Frank W Burr Boulevard

Building Size

30,000 SF

Asset Type

Office

Closing

Nov 19, 2024

AI

The property asset involved in this transaction is an office space located at 300 Frank W Burr Boulevard in Teaneck. The asset comprises a total area of 30,000 square feet situated within a competitive market.

Summary of transaction details:

This transaction highlights the expansion of Interstate Waste Services, which has increased its space at Glenpointe in Teaneck, NJ, to a total of 47,545 square feet. Andrew Zezas represented the tenant in this lease, while the landlord’s interests were represented by the team from Newmark, consisting of Jeff Schotz, Dan Reider, Peter Kasparian, and David Simson.

Players

Dan Reider

Newmark

Broker

$146.1M

vol

14 deals

Broker

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