Matthews Real Estate Investment Services Leases 2,997 SF At Glenpointe Centre West In Teaneck, New Jersey
500 Frank West Burr Boulevard
Building Size
2,997 SF
Asset Type
Office
Closing
Nov 2, 2023
AI
Matthews Real Estate Investment Services has leased 2,997 square feet of office space at Glenpointe Centre West in Teaneck, New Jersey. The property, located at 500 Frank West Burr Boulevard, offers a prime location for the expanding company. The deal was facilitated by Newmark and Cresa, with Dennis Gralla from Cresa serving as the broker for Matthews Real Estate Investment Services.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not provided
- Square Footage: 2,997
- Address: 500 Frank West Burr Boulevard, Teaneck, New Jersey
- Market: Teaneck
According to the information available, Matthews Real Estate Investment Services has chosen this location to further establish its presence in New Jersey. The office space at Glenpointe Centre West will provide the company with the necessary space for its operations. The broker for the deal, Dennis Gralla of Cresa, worked with Newmark and represented Matthews Real Estate Investment Services in the lease negotiation.
Players
Ridgewood 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