Remarkable Foods Kitchens Leases Industrial Asset In Fairfield, NJ With Longpoint Realty Partners
149 New Dutch Ln, Fairfield, NJ, 07004
Building Size
39,800 SF
Asset Type
Industrial
Closing
Nov 20, 2023
AI
The industrial property at 149 New Dutch Ln in Fairfield, NJ, 07004, spans 39,800 square feet, including 30,500 square feet of refrigerated warehouse space. The asset, now leased by Remarkable Foods Kitchens LLC, is situated at the corner of Fairfield Avenue and New Dutch Lane, with convenient access to routes 46 and 23, as well as Interstate 80.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not provided in the context
- Landlord's Representative: Marc Krieger (Avison Young), Matthew C. Turse (Avison Young), Timothy Cadigan (Avison Young)
- Tenant: Remarkable Foods Kitchens
- Landlord: Longpoint Realty Partners
- Square Feet: 39,800
Avison Young's principals Matthew Turse and Timothy Cadigan, along with Senior Vice President Marc Krieger, acted as representatives for Longpoint Realty Partners in securing Remarkable Foods Kitchens LLC as the tenant for the industrial property. JLL represented the tenant in the transaction. Jeff Heller, a principal at Avison Young, expressed satisfaction with finding a tenant that aligns with Longpoint's business goals. Dan Frank, the managing director of Longpoint Realty, highlighted the strategic location of the property and praised Avison Young's market expertise in facilitating the lease agreement.
Players
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