Resource Realty Renews Industrial Lease In Fairfield, NJ For PPI Time Zero
11 Madison Road
Building Size
30,000 SF
Asset Type
Industrial
Closing
May 20, 2024
AI
The industrial property located at 11 Madison Road in Fairfield, NJ, consists of a 30,000-square-foot space on a 2.3-acre plot. The lease for this asset was renewed in May 2024.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not Applicable
- Address: 11 Madison Road
- Market: Fairfield
- Landlord: Richards & Robbins
- Tenant: PPI Time Zero
- Landlord's Rep: Daniel Whitehead & Gregory Sabato - Resource Realty
- Tenant's Rep: Cresa
Resource Realty, a local brokerage firm, was instrumental in facilitating the lease renewal transaction. Daniel Whitehead and Gregory Sabato of Resource Realty represented the landlord, Richards & Robbins, while Cresa acted as the tenant's representative for PPI Time Zero, an affiliate of electronics manufacturer VIRTEX.
Players
Fairfield 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