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650 From Road

Dr. Reza Karimi Of Cresa Leases 16,222 Square Feet Office In Paramus From Onyx Equities
LEASEDOffice

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:

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

Ben Brenner

Cushman & Wakefield

Broker

2 deals

Broker

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