Updated Sep 9, 2024
L'Oreal USA Occupied Buildings Sold For Over $11 Million In Clark, Union County
Clark133 Terminal Ave, Clark, Nj 07066
$11,000,000
$146/SF
Building Size
75,353 SF
Asset Type
Commercial
Closing
May 30, 2023
About this deal
AI
Two buildings totaling over 75,000 square feet in Clark, Union County, have been sold for more than $11 million. The properties, located at 133 & 159 Terminal Avenue and currently occupied by L'Oreal USA, were sold to a buyer who had previously purchased a neighboring building. The buyer was attracted by the quality of the tenant and their satisfaction with the prior purchase.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $11,000,000
- Address: 133 & 159 Terminal Avenue
- Market: Clark
- Asset Type: Commercial
- Acres: 7.14
- Square Footage: 75,353
- Price per Square Foot: $146
The deal was brokered by David Zimmel of Zimmel Associates, who represented the buyer in the transaction.
On the Map
$11,000,000
$146/SF
Commercial
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93