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123 Lehigh Drive

Moda Foods Leases Industrial Space In Fairfield To Full Occupancy By Elliot Ferris
LEASEDIndustrial

Moda Foods Leases Industrial Space In Fairfield To Full Occupancy By Elliot Ferris

123 Lehigh Drive

Building Size

22,523 SF

Asset Type

Industrial

Closing

Feb 22, 2024

AI

Industrial property located at 123 Lehigh Drive in Fairfield spanning 22,523 square feet was leased to Moda Foods. The strategic location of the property was a key factor in facilitating the deal.

Summary of transaction details:

Moda Foods, a company renowned for desserts like macaroons and Turkish delights, selected the leased space at 123 Lehigh Drive in Fairfield to enhance its distribution networks across 25 states. The deal brought the building to full occupancy, showcasing the attractiveness of northern New Jersey's industrial market.

Players

Mindy Lissner

Cushman & Wakefield

Broker

$111.2M

vol

14 deals

Broker

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