Lenox Group Leases 120,000 SF Industrial Space In Millville, NJ
1300 Wheaton Ave.
Building Size
—
Asset Type
—
Closing
Aug 1, 2022
About this deal
AI
An industrial property located at 1300 Wheaton Ave. in Millville, NJ has been leased. The property spans 120,000 square feet and was leased to Lenox Group. The leasing transaction was facilitated by Abe Friedman, who represents Lenox Group as their broker representative.
Summary of transation details
- Property Type: Industrial
- Asking Rent: $20 per square foot
- Square Footage: 120,000
- Tenant: Lenox Group
- Broker Representative: Abe Friedman
Abe Friedman, representing Lenox Group, successfully negotiated the lease agreement for the industrial property at 1300 Wheaton Ave. in Millville, NJ. The property's asking rent was set at $20 per square foot, resulting in a mutually beneficial deal for both parties.
Players
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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