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Chimney Rock Rd, Bridgewate...

Denholtz Properties Acquires Industrial Property On Chimney Rock Rd In Bridgewater
SOLDIndustrial

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

Kristine Hurlbut

Broker

3 deals

Broker
Denholtz Properties
Denholtz PropertiesBuyer

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