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:
- Property Type: Office
- Transaction Amount: Not specified
- Market: Teaneck
- Landlord: Carolina Gutierrez - Alfred Sanzari Enterprises
- Tenant: Brian Giambagno - Interstate Waste Services
- Landlord's Representative: Dan Reider, David Simson, Jeff Schotz & Peter Kasparian - Newmark
- Tenant's Representative: Andrew Zezas - Real Estate Strategies Corporation
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
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