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650 Plaza Dr, Secaucus, NJ,...

NAI James E. Hanson Secures Tenants For 700 Plaza Drive In Secaucus
LEASEDOffice

NAI James E. Hanson Secures Tenants For 700 Plaza Drive In Secaucus

650 Plaza Dr, Secaucus, NJ, 07094

Building Size

1,655 SF

Asset Type

Office

Closing

Nov 22, 2023

AI

The property at 700 Plaza Drive in Secaucus, NJ, 07094, has recently secured new tenants, Hudson Pro Orthopedics & Sports Medicine and Nippon Travel Agency America Inc. The office asset spans 2,418 square feet and another 1,655 square feet respectively, located within The Plaza at Harmon Meadow, a mixed-use complex offering extensive corporate and retail space along with amenities such as a movie theater, health club, convention center, and hotels. The leasing representation for the landlord, The Carlton Group LLC, was handled by Josh Levering and Nick DePaolera from NAI James E. Hanson.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Landlord: The Carlton Group LLC
  • Market: Secaucus
  • Square Feet: 2,418 (Hudson Pro Orthopedics & Sports Medicine), 1,655 (Nippon Travel Agency America Inc.)
  • Landlord's Rep: Nicholas (Nick) DePaolera (NAI Capital)

The leasing deal at 700 Plaza Drive in Secaucus presents a valuable opportunity for small businesses in the Meadowlands New Jersey market to secure modern, well-located office spaces. Nicholas DePaolera from NAI Capital highlighted that with the limited options available for small office users in the area, there is a significant demand for suitable buildings like 700 Plaza Drive. The success of these deals reflects the commitment to assisting small businesses in finding suitable commercial spaces within Secaucus.

Players

Nicholas DePaolera

NAI Global

Broker

4 deals

Broker

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