Poke Bowl NYC Signs Retail Lease And Renewals For Office Space In Jersey City
525 Washington Boulevard
Building Size
20,263 SF
Asset Type
Office
Closing
Oct 1, 2024
AI
The property asset involved is located at 525 Washington Boulevard, Jersey City. It is classified as an office space with a total square footage of 20,263. The transaction included a new retail lease and multiple office lease renewals. The specific space for Poke Bowl NYC is 1,448 square feet, while the office spaces for the other tenants vary in size: Wedbush Securities occupies 11,125 square feet, Hudson Edge Investment occupies 3,796 square feet, and Pearson VUE occupies 3,894 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 525 Washington Boulevard
- Market: Jersey City
- Tenants: Poke Bowl NYC, Wedbush Securities, Hudson Edge Investment, Pearson VUE
- Landlord's Representative: David DeMatteis, Kathryn Cruz, Mina Shehata, Neil Seth - Cushman & Wakefield
- Tenant's Representatives: Christopher Marx - Savills; Dan Reider & David Kluth - Newmark; Estelle Holm Pedersen - Ripco
Cushman & Wakefield facilitated the arrangement of the new retail lease for Poke Bowl NYC and the lease renewals for the office tenants. The landlord, BGO, was represented by David DeMatteis and Mina Shehata for the office leases, while Neil Seth and Kathryn Cruz were responsible for the retail lease. The representation for the tenants included Estelle Holm Pedersen for Poke Bowl NYC, David Kluth and Dan Reider for Wedbush Securities, Christopher Marx for Hudson Edge Investment, and Mike McKenna for Pearson VUE from Cresa.
Players
Jersey City 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