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.
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