Denholtz Properties Acquires Industrial Property On Chimney Rock Rd In Bridgewater
Chimney Rock Rd, Bridgewater Towns...
Building Size
26,000 SF
Asset Type
Industrial
Closing
Nov 20, 2023
AI
The 26,000-square-foot industrial building located at 6W Chimney Rock Road in Bridgewater, New Jersey, has been acquired by Denholtz Properties. The property is part of the Bridgewater Business Park, a 380,000-square-foot office complex consisting of 16 industrial flex buildings. Denholtz Properties' portfolio in the park now totals 290,163 square feet, with key tenants such as UPS, Zoned Inc., and Bridgewater Marble.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Buyer: Denholtz Properties
- Buyer's Representative: Kristine (Kris) Hurlbut
- Seller's Representative: Marcus & Millichap
Kristine Hurlbut represented Denholtz Properties in the acquisition of the industrial building. Marcus & Millichap acted as the representatives for the undisclosed seller in the transaction.
Players
Bridgewater Industrial Market Snapshot
Boundary boundary · Industrial · Sale 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