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
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