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1 Stercho Road

P&I Global Tire Solutions Leases Industrial Building In Linden With Bussel Realty Brokers
LEASEDIndustrial

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

Eric Koons

Bussel Realty

Broker

$39.9M

vol

14 deals

Broker

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