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500 Frank West Burr Boulevard

Matthews Real Estate Investment Services Leases 2,997 SF At Glenpointe Centre West In Teaneck, New Jersey
LEASEDOffice

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

Dan Reider

Newmark

Broker

$146.1M

vol

14 deals

Broker
Matthews
Matthews Brokerage
Carolina Gutierrez

Carolina Gutierrez

Alfred Sanzari Enterprises

Landlord

8 deals

Landlord

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