PuroClean Leases 5500 Square Feet Industrial Space At 116 South Avenue In Garwood
116 South Avenue
Building Size
5,500 SF
Asset Type
Industrial
Closing
Mar 12, 2026
AI
The asset involved in the transaction is a single-story light industrial building located at 116 South Avenue in Garwood. The total space leased is 5,500 square feet, and the property features office space along with a large parking lot suitable for equipment storage.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Address: 116 South Avenue
- Market: Garwood
- Landlord: Garden State Parkway
- Tenant: PuroClean
- Brokers: Marcy Gross & Eric Weston - Sheldon Gross Realty
Marcy Gross, president of Sheldon Gross Realty, and Vice President Eric Weston facilitated the lease arrangement for this property to PuroClean, a company specializing in property restoration services. The location offers proximity to Route 28 and is less than a mile from the Garden State Parkway, which enhances the tenant's operational efficiency.
Players
Garwood 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