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400 Plaza Dr, Secaucus, NJ,...

The Vitamin Shoppe Leases 28000 Square Feet At 400 Plaza Dr Secaucus With Tenant's Rep Gregory Barkan
LEASEDOffice

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

Gregory Barkan

CBRE

Broker

7 deals

Broker
FCA
FCALandlord

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