The Vitamin Shoppe Leases 28000 Square Feet At 400 Plaza Dr Secaucus With Tenant's Rep Gregory Barkan
400 Plaza Dr, Secaucus, NJ, 07094
Building Size
28,000 SF
Asset Type
Office
Closing
Jan 10, 2018
AI
The transaction involves a long-term lease for 28,000 square feet at 400 Plaza Drive, Secaucus, NJ, situated in the Secaucus market. The property is notable for its proximity to the headquarters of The Vitamin Shoppe and features an array of amenities including significant parking capacity, newly renovated space, and enhanced digital media capabilities.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not disclosed
- Address: 400 Plaza Dr, Secaucus, NJ, 07094
- Market: Secaucus
- Tenant: The Vitamin Shoppe
- Landlord: FCA
- Tenant's Representative: Gregory Barkan-CBRE
- Landlord's Representative: Curtis Foster-Cushman & Wakefield
- Square Feet: 28,000
Curtis Foster and Jerry Shifrin from Cushman & Wakefield acted as exclusive leasing agents for the property, facilitating the lease during a significant period for the Meadowlands area. Gregory Barkan and Remy deVarenne of CBRE represented The Vitamin Shoppe, along with Laurence Elgart, Deputy General Counsel – Real Estate, and Jan Alan Lewis of Cole Schotz P.C. The deal underscores The Vitamin Shoppe's strategic decision to centralize operations within the Harmon Meadow complex, which offers a vibrant work environment.
Players
Secaucus 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