Newmark Brokers Sell Commercial Property In Clark, NJ For $15.8M
SOLD
$15,800,000
New Jersey
See Similar DealsCommercial108,000 SF
SOLD
Newmark Brokers Sell Commercial Property In Clark, NJ For $15.8M
175 Terminal Ave, Clark, NJ, 07066
See Similar DealsCommercial108,000 SF
Summary
NEW JERSEY
Asset Type:Commercial
Price Per Square Foot:$146
Total Square Footage:108,000 SF
Transaction Type:Sale
The 108,000-square-foot flex facility located at 175-195 Terminal Ave in Clark, NJ, was sold for $15.8 million. Situated on a seven-acre property, the single-story R&D space serves as the headquarters for L’Oréal’s North American R&D division and was recently renovated.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $15,800,000.00
- Market: Clark
- Seller's Representative: Steven Schultz (Newmark), Tony Georgiev (Newmark)
- Buyer: Undisclosed
Steven M. Schultz and Tony D. Georgiev of Newmark represented the seller, Denholtz Associates, in the sale of this commercial property. The buyer's identity remains undisclosed in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$842,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$56,134.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$74,900.06
Annual Debt Service$898,800.73
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