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160 Summit Avenue

Rubinstein Plastic Surgery Center Leases 3,400 SF Office Space At 160 Summit Avenue In Montvale
LEASEDOffice

Rubinstein Plastic Surgery Center Leases 3,400 SF Office Space At 160 Summit Avenue In Montvale

160 Summit Avenue

$25

$25/SF

Building Size

3,400 SF

Asset Type

Office

Closing

May 2, 2023

AI

Rubinstein Plastic Surgery Center has signed a long-term lease for 3,400 square feet at 160 Summit Ave., a 32,000-square-foot office building in Montvale, New Jersey. The building is currently undergoing renovations, including upgrades to the common areas, ADA accessibility improvements, and enhanced signage. The space will be joining recent tenants Refuah Health Center and Empowered Pelvic Health. The lease was facilitated by JLL's Frank D. Recine, who serves as the exclusive leasing agent for the property.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: N/A
  • Asking Rent: $25/ft.
  • Square Footage: 3,400
  • Address: 160 Summit Avenue
  • Market: Montvale

Frank D. Recine, representing JLL, played a pivotal role in facilitating the lease agreement between Rubinstein Plastic Surgery Center and Montvale Real Estate Ventures, LLC, the owner of the office building.

Players

Frank Recine

JLL

Broker

$48.1M

vol

7 deals

Broker

Thunder Bay 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

634520.00%

Cash-on-Cash

-181347.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93