Friedland Law Leases 5,422 SF Office In River Edge New Jersey With Rep James Peko
70 Grand Avenue
$25
$25/SF
Building Size
5,422 SF
Asset Type
Office
Closing
Jun 16, 2025
AI
The property involved in this transaction is an office space located at 70 Grand Avenue in River Edge. It encompasses a total square footage of 5,422 and has been leased under a Modified Gross Lease agreement. The lease term established for this property is set at 7 years.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 70 Grand Avenue
- Market: River Edge
- Square Footage: 5,422
- Tenant: Lee Friedland - Friedland Law
- Landlord's Representative: Andrew Somple - NAI James E. Hanson
- Tenant's Representative: James Peko - Christie's International Real Estate
- Lease Term: 7 years
- Lease Type: Modified Gross Lease
Friedland Law, represented by James Peko, has expanded its operations by opening a new office in New Jersey, which marks the fifth location following existing offices in Fort Lauderdale, New York City, West Palm Beach, and Jacksonville. This expansion demonstrates the firm's commitment to increasing its presence in the Northern New Jersey market, benefiting from the strategic location of the leased property.
Players
River Edge 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
634520.00%
Cash-on-Cash
-181347.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93