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777 Terrace Ave, Hasbrouck ...

Lease Signed By Alfred Sanzari Enterprises For 9700 Square Feet At 777 Terrace Ave Hasbrouck Heights
LEASEDOffice

Lease Signed By Alfred Sanzari Enterprises For 9700 Square Feet At 777 Terrace Ave Hasbrouck Heights

777 Terrace Ave, Hasbrouck Heights...

Building Size

9,700 SF

Asset Type

Office

Closing

Jun 7, 2017

AI

The property involved in this transaction is a Class A office building located at 777 Terrace Ave, Hasbrouck Heights, with a renewed lease covering a space of 9,700 square feet. The property is part of Heights Plaza, which offers a total of 200,000 square feet of office space across six floors. It is strategically positioned near major highways including I-80, Route 17, and Route 46, facilitating access to areas such as the George Washington Bridge and Teterboro Airport.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 777 Terrace Ave, Hasbrouck Heights
  • Market: Hasbrouck Heights
  • Tenant's Representative: Mark Trevisan - Cushman & Wakefield, David Sherman - Compass
  • Landlord: Alfred Sanzari Enterprises
  • Square Feet: 9,700

The lease transaction was negotiated in-house by Stephen C. Jennings, vice-president of leasing and marketing at Alfred Sanzari Enterprises. DMR Architects, the tenant, has been a tenant at Heights Plaza since June 2007 and specializes in various design disciplines. This firm continues to benefit from the on-site amenities and the notable location that supports its operations in Bergen County and the greater northern New Jersey area.

Players

David Sherman

Compass

Broker

$13.4M

vol

6 deals

Broker
Alfred Sanzari Enterprises
Alfred Sanzari EnterprisesBrokerage
Alfred Sanzari

Alfred Sanzari

Alfred Sanzari Enterprises

Landlord

$12.2M

vol

19 deals

Landlord

Hasbrouck Heights 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