Dr. Reza Karimi Of Cresa Leases 16,222 Square Feet Office In Paramus From Onyx Equities
650 From Road
Building Size
16,222 SF
Asset Type
Office
Closing
Oct 17, 2024
AI
The property involved in this transaction is a 16,222-square-foot office space located at 650 From Road in Paramus. This asset type caters to office usage and is part of the Paramus market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 650 From Road
- Market: Paramus
- Landlord: Onyx Equities
- Tenant: Dr. Reza Karimi - New Jersey Brain and Spine
- Landlord's Representative: Ben Brenner, David DeMatteis & Mark Zaziski - Cushman & Wakefield
- Tenant's Representative: Dennis Gralla & Jonathan Marks - Cresa
- Previous Tenant Space: 13,559-square-foot space in Hackensack
Cresa's New Jersey Medical Practice Group, led by Jonathan Marks and Dennis Gralla, represented New Jersey Brain and Spine in this lease transaction. Cushman & Wakefield's brokerage team, which includes Ben Brenner, David DeMatteis, and Mark Zaziski, represented ownership. This move aims to enhance operational efficiency and accessibility to key medical institutions within Bergen County.
Players
Paramus 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