Updated Apr 23, 2026
Seagis Property Group Leases 19,965 Square Feet To Schmidt Baking Distribution In Newark
136-158 Paris Street
Building Size
19,965 SF
Asset Type
Industrial
Closing
Apr 22, 2026
About this deal
AI
The property asset involved in this transaction is an industrial facility located at 136-158 Paris Street in Newark. The asset encompasses a total square footage of 19,965 and includes 14 dock doors. It is strategically positioned with access to Route 1&9 and the New Jersey Turnpike, enhancing its suitability for high-capacity distribution operations.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Square Footage: 19,965
- Address: 136-158 Paris Street
- Market: Newark
- Landlord: John Begier - Seagis Property Group
- Tenant: Schmidt Baking Distribution LLC
- Landlord's Representative: Chuck Fern - Cushman & Wakefield
- Tenant's Representatives: Matthew Phillips, Rick Vanderbeck & Hugh Nastasi - The Blau & Berg Company
This lease transaction involved Seagis Property Group leasing the facility to Schmidt Baking Distribution LLC, a division of H&S Family of Bakeries. The collaboration is aimed at bolstering the tenant's distribution capabilities across the Northeast region.
Players
Newark 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