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
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