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1200 Highland Dr, Westampto...

McCollister Transportation Leases 120,113 SF Industrial Property In Westampton, NJ
LEASEDIndustrial

McCollister Transportation Leases 120,113 SF Industrial Property In Westampton, NJ

1200 Highland Dr, Westampton, NJ, 0...

Building Size

120,113 SF

Asset Type

Industrial

Closing

Nov 22, 2023

AI

The industrial property at 1200 Highland Drive in Westampton, NJ, has been leased to McCollister Transportation Group. The specialty transportation and logistics firm will occupy a total of 120,113 square feet in the Highlands market. The building, owned by Bailard, is part of a master-planned development and offers a strategic location directly off Interstate 295, just five miles from Exit 5 of the New Jersey Turnpike.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Tenant's Rep: Scott Mertz(NAI Capital)
  • Landlord's Rep: Not specified
  • Tenant: McCollister Transportation Group
  • Landlord: Bailard
  • Square Feet: 120,113

The lease transaction was facilitated by David M. Ricci and Tony Rod of Flynn Co., who represented the ownership of the property. On the tenant side, Scott Mertz of NAI Mertz acted as the representative for McCollister Transportation Group. The location of the building offers excellent accessibility to major highways, enhancing the logistical operations of the tenant.

Players

Tony Rodriguez-Tellaheche

Broker

$27.7M

vol

5 deals

Broker

Highlands 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