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370 W Pleasantview Ave, Hac...

A2 Express Logistics Leases Retail Space At Summit Plaza, Hackensack
LEASEDRetail

A2 Express Logistics Leases Retail Space At Summit Plaza, Hackensack

370 W Pleasantview Ave, Hackensack...

Building Size

1,096 SF

Asset Type

Retail

Closing

Nov 22, 2023

AI

The new UPS Store will be joining Alfred Sanzari Enterprises’ Summit Plaza in Hackensack, taking up 1,096 square feet at 370-380 West Pleasantview Ave. This retail property is strategically located at the intersection of Route 17 and Interstate 80 in Hackensack.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not disclosed
  • Landlord's Rep: Stephen Jennings(Alfred Sanzari Enterprises)
  • Tenant: A2 Express Logistics Inc
  • Square Feet: 1,096

Stephen Jennings, the Vice President of Leasing and Marketing at Alfred Sanzari Enterprises represented the ownership in-house for this transaction. The UPS Store, a locally owned franchise, aims to cater to small business owners in the region. Summit Plaza's location in Bergen County is highly visible and conveniently located to serve the local community effectively.

Players

Stephen Jennings

Alfred Sanzari Enterprises

Broker

10 deals

Broker

Hackensack Retail Market Snapshot

Boundary boundary · Retail · 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