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1001 Roosevelt Avenue

Seagis Property Group Leases 33,364 SF To Nirwana Foods American Exchange Apparel South Valley Trading Company
LEASEDIndustrial

Seagis Property Group Leases 33,364 SF To Nirwana Foods American Exchange Apparel South Valley Trading Company

1001 Roosevelt Avenue

Building Size

33,364 SF

Asset Type

Industrial

Closing

Feb 18, 2025

AI

The industrial asset located at 1001 Roosevelt Avenue in Carteret has a total square footage of 33,364. It is part of the industrial market segment and is associated with Seagis Property Group as the landlord.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not disclosed
  • Address: 1001 Roosevelt Avenue
  • Market: Carteret
  • Landlord: John Begier - Seagis Property Group
  • Tenants: Jimmy Singh - Nirwana Foods; Alen Mamrout - American Exchange Apparel; South Valley Trading Company
  • Brokers: Benito Abbate, James Friel & Jordan Metz - Bussel Realty

Bussel Realty Corp.’s Metz Industrial Group facilitated the leasing process, securing three distinct tenants for the property. Jordan Metz, Ben Abbate, and James Friel represented the landlord, Seagis Property Group, in these transactions, showcasing their expertise in the industrial leasing sector.

Players

Jordan Metz

Bussel Realty

Broker

$140.7M

vol

38 deals

Broker

Carteret 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