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1300 Wheaton Ave.

Updated Oct 28, 2024

Lenox Group Leases 120,000 SF Industrial Space In Millville, NJ
SOLD

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

Abe Friedman

Tenant

$5.8M

vol

3 deals

Tenant

Troy CRE Market Snapshot

Boundary boundary · CRE · 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

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