Location
400 Delancy Street, Newark, Essex County, New Jersey
Property Description
Formerly "Red Star Trucking", this existing 274,000 SF three-story, masonry and steel frame office-industrial building is undergoing complete renovation for multi-tenant office and retail. Situated on a total of 23.5 acres, and visible from Routes 1 & 9, the site has 2.0 acres of contiguous land remaining for ground lease. Major building renovations include a high speed passenger and freight elevator, redesigned common areas, new windows and HVAC and mechanical systems. On-site security provided during evening hours.
Occupancy
Retail - 30 days after lease execution
Office - 30 days after lease execution
Parking
Two-level concrete and steel framed parking deck with a 310 car capacity, plus 48 car parking for retail patrons on the ground floor
Rental Rate
Retail - $18.00
Office - $12.00 - $18.00
Available Space
1st Floor - Retail: 8,300 SF (2,000 SF to 4,200 SF units available)
$18.00 PSF NNN (20109 NNN estimate is $4.00 PSF)
Gross Rent: $3,667 per month per 2,000 SF
1st Floor - Office: 7,700 SF divisible to 600 SF
·3 year lease $18.00 PSF includes 2010 base year Taxes & CAM
·5 year lease $16.00 PSF includes 2010 base year Taxes & CAM
New HVAC with separate meters & operating bathrooms plus Elevator
Gross Rent: $1,417 per month per 1,000 SF
2nd Floor - Office: 25,000 SF divisible to 950 SF
$14.00 PSF - (includes base year RE taxes & CAM)
Gross Rent: $1,167 per month per 1,000 SF
3rd Floor - Office: 33,400 SF divisible to 2,000 SF
$12.00 PSF (includes base year taxes and CAM)
Gross Rent: $2,000 per month per 2,000 SF
Comments
•Designated by Newark as part of it's Redevelopment and Regeneration efforts, including 3% Sales Tax within Urban Enterprise Zone.
•Continental Hardware & Trading Company has opened a 50,000 SF showroom along with a 132,000 SF warehouse/outside storage. Other tenants include a cafe/restaurant and a transportation company.
•Suitable retail uses include: Specialty grocer, banking/financial, automotive supplies, health & fitness, fast food, convenience stores, dry-cleaners, discount & variety stores, child care.
•Suitable office uses include: Airline vendors, customs agencies, finance companies, vocational and technical schools, state and county administrative services and other corporate, professional and back office/Lab uses.
•Within 1/2 mile of I-78, Route 22, The NJ Turnpike and 2.5 miles from the Garden State Parkway. Accessible from the Ferry Street business district via Wilson Avenue and Stockton Street and only 1.5 miles from Newark Penn Station.
Download PDF Brochure
|
