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
Highlands Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
Loading comparables…
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