Richelieu America Ltd Renews Long-Term Lease At 132 Beaver Brook Road
132 Beaver Brook Road
Building Size
48,650 SF
Asset Type
Industrial
Closing
May 31, 2024
AI
The industrial property at 132 Beaver Brook Road in Lincoln Park, Morris County, spanning 48,650 square feet, has been leased to Richelieu America Ltd., a wholesale distributor of specialty hardware and accessories. The property, owned by Northbridge Partners, serves as an ideal facility for Richelieu's distribution needs.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 132 Beaver Brook Road
- Market: Lincoln Park
- Landlord: Dean Atkins - Northbridge Partners
- Tenant: Richard Lord - Richelieu America Ltd
The leasing transaction was facilitated by the CBRE team consisting of Chad Hillyer, Kate Granahan, Nicholas Klacik, and Kevin Dudley, who represented Northbridge Partners. The negotiations underscored the commitment of Richelieu America Ltd. to the region and the suitability of the property for their operational requirements.
Players
Lincoln Park 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