Signature Acquisitions Leases 145,000 Square Feet To Quest Diagnostics And Others In Secaucus
500 Plaza Drive
Building Size
145,000 SF
Asset Type
Office
Closing
Apr 23, 2026
AI
The office asset located at 500 Plaza Drive in Secaucus comprises 145,000 square feet of space. This property is situated in a market that is currently experiencing a rise in demand for suburban offices near Manhattan.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Square Footage: 145,000 SF
- Address: 500 Plaza Drive
- Market: Secaucus
- Landlord: Abe Brach - Signature Acquisitions
- Tenant: Quest Diagnostics, Retarus, New Jersey Education Association
- Landlord's Representative: David Stifelman & Tim Greiner - JLL
- Tenant's Representative: CBRE, Cushman & Wakefield & Newmark
Signature Acquisitions completed this leasing transaction in Q1 2026, resulting in an increase in occupancy above 75% at the 465,000-square-foot building. Key elements of this transaction include a significant 131,000-square-foot renewal by Quest Diagnostics alongside new leases with both Retarus and the New Jersey Education Association.
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