Geraldine R. Dodge Foundation Moves Headquarters To 550 Broad St. In Newark, NJ Arranged By JLL
550 Broad Street
Building Size
9,180 SF
Asset Type
Office
Closing
Feb 1, 2024
AI
The Geraldine R. Dodge Foundation, a not-for-profit focused on racial justice, is moving its headquarters to 550 Broad St. in Newark, NJ. The foundation will occupy 9,180 square feet on the 10th floor of the Fidelco Realty Group-owned building. This move will contribute to Newark's economic revitalization efforts, as the foundation joins a community of not-for-profit tenants.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 550 Broad Street, Newark, NJ
- Market: Newark
- Asset Type: Office
- Square Footage: 9,180
The landlord of the property is Kerri B. Levine from Fidelco Realty Group. Representing the landlord in this deal is Jon Karnick from Assurance Realty Group. The tenant, Tanuja M. Dehne, is the Geraldine R. Dodge Foundation. Assisting the foundation in this transaction is Kelsey Nakamura from JLL.
Players
Newark 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