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70 Grand Avenue

Friedland Law Leases 5,422 SF Office In River Edge New Jersey With Rep James Peko
LEASEDOffice

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

Andrew Somple

NAI James E. Hanson

Broker

$60.3M

vol

12 deals

Broker
Christie's International Real Estate
Christie's International Real EstateBrokerage

River Edge Office Market Snapshot

Boundary boundary · Office · Lease transactions

Loading comparables…

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