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149 New Dutch Ln, Fairfield...

Remarkable Foods Kitchens Leases Industrial Asset In Fairfield, NJ With Longpoint Realty Partners
LEASEDIndustrial

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:

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

Marc Krieger

Avison Young

Broker

2 deals

Broker
Longpoint Realty Partners
Longpoint Realty PartnersLandlord

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