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
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