Updated Dec 4, 2024
IMTT Bayonne Leases 10,000 SF Office Space In Hudson County At $24/ft Through Solomon Braun
$24
$24/SF
Building Size
10,000 SF
Asset Type
Office
Closing
Jul 1, 2024
About this deal
AI
The transaction involves a lease of office space located in Hudson County. The tenant is IMTT Bayonne, which has secured a modified gross lease over 10,000 square feet of space at an asking rent of $24 per square foot. The lease term is set for five years, indicating a commitment to this property for an extended period.
Summary of transaction details:
- Property Type: Office Space
- Transaction Amount: $24/ft.
- Square Footage: 10,000
- Lease Type: Modified Gross Lease
- Lease Term: 5 Years
- Tenant: IMTT Bayonne
- Broker: Solomon Braun - Key Commercial Realty
Solomon Braun, a licensed real estate broker, facilitated this transaction. He can be contacted at 973.320.7000 or 917.426.3929, and his office is located at 1405 N. Broad St. S'201, Hillside, NJ 07205. His role was crucial in negotiating the terms of the lease agreement between the tenant and the property owner.
Players
Market 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
660958.33%
Cash-on-Cash
-188903.92%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93