P&I Global Tire Solutions Leases Industrial Building In Linden With Bussel Realty Brokers
1 Stercho Road
Building Size
14,500 SF
Asset Type
Industrial
Closing
Apr 30, 2024
AI
The industrial building located at 1 Stercho Road in Linden, spanning 14,500 square feet, was successfully leased to P&I Global Tire Solutions by Bussel Realty Corp. The strategic location near major transportation hubs and Linden's favorable business environment played a pivotal role in the tenant's decision to establish their headquarters at this property.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not provided
- Address: 1 Stercho Road
- Market: Linden
- Tenant: Ignacio Chiozza - P&I Global Tire Solutions
- Landlord: BNG Realty LLC
Eric Koons, along with Steve Jaynes, represented Bussel Realty in this deal. Koons emphasized the property's proximity to key transportation infrastructure and the overall favorable business environment in Linden, which were instrumental in attracting P&I Global Tire Solutions as the new tenant.
Players
Linden 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