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4567 Route 9, Howell Townsh...

Towne Nursing Staff, Inc Leases Office Space In Howell, NJ From Township Of Howell For $18/ft
LEASEDOffice

Towne Nursing Staff, Inc Leases Office Space In Howell, NJ From Township Of Howell For $18/ft

4567 Route 9, Howell Township, NJ, USA

Building Size

14,235 SF

Asset Type

Office

Closing

Jul 1, 2020

AI

The office building located at 4567 Route 9 North in Howell was recently leased. The property, spanning 14,235 square feet, was leased by Towne Nursing Staff, Inc. The landlord for this transaction was the Township of Howell. The deal was facilitated by brokers Jarrad Coletta and Jon Coletta. The asking rent for the space was $18 per square foot.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: Lease
  • Date: 07/01/2021
  • Address: 4567 Route 9 North, Howell
  • Tenant: Towne Nursing Staff, Inc
  • Landlord: Township of Howell
  • Brokers: Jarrad Coletta & Jon Coletta
  • Asking Rent: $18/ft.

This lease deal demonstrates the demand for office space in Howell. Towne Nursing Staff, Inc saw the potential in this property and decided to lease it from the Township of Howell. The successful negotiation and agreement were facilitated by brokers Jarrad Coletta and Jon Coletta.

Players

Jarrad Coletta

Coletta Commercial Realty

Broker

$15.1M

vol

10 deals

Broker

Howell 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