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500 West Frank West Burr Bo...

Hanwha Vision America Expands Lease At Glenpointe Center West In Teaneck
LEASEDOffice

Hanwha Vision America Expands Lease At Glenpointe Center West In Teaneck

500 West Frank West Burr Boulevard

$37

$37/SF

Building Size

7,133 SF

Asset Type

Office

Closing

Aug 11, 2023

AI

Hanwha Vision America, a video surveillance firm, has expanded its lease by 7,133 square feet at Teaneck's Glenpointe Center West in New Jersey. The additional space brings the company's total office area to approximately 29,000 square feet. The expansion supports Hanwha Vision America's growth in providing optical design, image processing, and cybersecurity technologies to clients worldwide.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not mentioned
  • Address: 500 West Frank West Burr Boulevard, Teaneck
  • Market: Teaneck

Hanwha Vision America's expanded lease at Teaneck's Glenpointe Center West signifies its commitment to accommodating its increasing business activities in the region. This decision allows the company to further develop and deliver its cutting-edge technologies to clients globally. The additional space will provide the necessary room for the company's future expansion and growth.

Players

Dan Reider

Newmark

Broker

$146.1M

vol

14 deals

Broker
Alfred Sanzari Enterprises
Alfred Sanzari EnterprisesBrokerage
Carolina Gutierrez

Carolina Gutierrez

Alfred Sanzari Enterprises

Landlord

8 deals

Landlord

Milford 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

428729.73%

Cash-on-Cash

-122532.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93