DB Schenker Leases 80,000 SF Industrial Space At HRP Hudson Logistics Park In Jersey City
110 Van Keuren Avenue Jersey City, New Jersey 07306, USA
Building Size
80,000 SF
Asset Type
Industrial
Closing
Jun 23, 2023
AI
Hilco Redevelopment Partners has facilitated an 80,000-square-foot lease at HRP Hudson Logistics Park in Jersey City. The industrial property, located at 110 Van Keuren Avenue, is situated in a strategic location that aligns with DB Schenker's logistics needs. The park's sustainable features also complement DB Schenker's commitment to green supply chains and environmental sustainability.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: Not provided
- Square Footage: 80,000
- Address: 110 Van Keuren Avenue
- Market: Jersey City
The lease was signed between the landlord, Hilco Redevelopment Partners, represented by Andrew Chused, and the tenant, DB Schenker, represented by Andrew Botthof. JLL's David Knee, Chris Hile, and Ryan Milanik served as the landlord's representatives, while CBRE's Kevin Dudley and Nicholas Klacik acted as the tenant's representatives in the deal.
Players
New Jersey 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