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1 Debaun Road

Soligent Distribution Leases 55K SF Industrial Space In Millstone Township
LEASEDIndustrial

Soligent Distribution Leases 55K SF Industrial Space In Millstone Township

1 Debaun Road

Building Size

54,973 SF

Asset Type

Industrial

Closing

Jan 31, 2024

AI

Soligent Distribution LLC, a solar panel distributor, has leased 54,973 square feet of industrial space located at 1 Debaun Road in Millstone Township, Monmouth County. The property is owned by Scannell Properties. The lease brings the property to full occupancy and supports Soligent's green initiatives as they relocate from the Exit 8A submarket to a more central location.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not available
  • Address: 1 Debaun Road
  • Market: Millstone Township
  • Square Footage: 54,973

The landlord is Bob Scannell of Scannell Properties. Representing the landlord in the transaction were John Gianis, Judy Troiano, Matthew C. Turse, and Timothy Cadigan from Avison Young. The tenant, Soligent Distribution LLC, was represented by Lauren Pesqueda of Whitebox Real Estate and Mike Maroon of The Acclaim Group.

Players

Lauren Pesqueda

Whitebox Real Estate

Broker

5 deals

Broker

Perrineville Industrial Market Snapshot

Boundary boundary · Industrial · Lease 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