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650 Plaza Dr, Secaucus, NJ,...

Integrity Staffing Leases 1,500 SF Office Space In Secaucus, NJ
LEASEDOffice

Integrity Staffing Leases 1,500 SF Office Space In Secaucus, NJ

650 Plaza Dr, Secaucus, NJ, 07094

Building Size

1,500 SF

Asset Type

Office

Closing

Nov 22, 2023

AI

The office property located at 650 Plaza Dr, Secaucus, NJ, 07094, in the Secaucus market, was subject to a recent lease transaction involving Integrity Staffing Solutions and Carlton Strategic Ventures LLC. The lease encompassed 1,500 square feet within the office asset.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not disclosed
  • Tenant's Rep: Stephen Graziano (Colliers International)
  • Landlord's Rep: William "Will" Ericksen (NAI James E. Hanson)
  • Tenant: Integrity Staffing Solutions
  • Landlord: Carlton Strategic Ventures LLC
  • Square Feet: 1500

The transaction was facilitated with the assistance of W. Joshua "Josh" Levering from NAI Capital. Levering represented the ownership of the property in this deal, highlighting the building's strategic location within the mixed-use Harmon Meadow complex situated off Route 3 and the New Jersey Turnpike. Notably, this property has attracted significant interest due to its amenities, proximity to major New Jersey roadways, and its nearness to New York City. Levering's expertise has been instrumental in securing numerous leases at 700 Plaza since becoming the exclusive broker for the property in 2017.

Players

W. Joshua Levering

NAI Global

Broker

7 deals

Broker
SL
Strategic Ventures LLCLandlord

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