facebook

traded

+ Submit
Home

/

Deals

/

New Jersey

/

Retail

/

Lease

/

2 Hanover Road

Valley Bank Leases Retail Space At 2 Hanover Road In Florham Park
LEASEDRetail

Valley Bank Leases Retail Space At 2 Hanover Road In Florham Park

2 Hanover Road

Building Size

3,865 SF

Asset Type

Retail

Closing

Jan 16, 2024

AI

Valley Bank has secured a long-term lease for a retail space at 2 Hanover Road in Florham Park, Morris County. The colonial-style building, located at a signalized intersection, offers high visibility, making it an ideal location for the regional bank to operate a retail branch. The property spans 3,865 square feet and is strategically positioned in a prime market.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not provided
  • Address: 2 Hanover Road, Florham Park
  • Market: Florham Park
  • Square Footage: 3,865 SF

Valley Bank, a nationwide regional bank with over 300 branches, will be represented by Blake J. Shanaphy of JLL. The landlord's representative in this transaction is Amy Staats from Katz & Associates, who successfully facilitated the long-term lease for Valley Bank at 2 Hanover Road.

Players

Amy Staats

Katz & Associates

Broker

4 deals

Broker
VB
Valley BankTenant

Florham Park Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

Loading comparables…

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