The STRO Companies Leases 78,000 SF Industrial Space In Fairfield To Showman Fabricators, Inc
15 Law Drive, Fairfield, New Jersey 07004, United States
Building Size
78,000 SF
Asset Type
Industrial
Closing
Jun 26, 2022
AI
The industrial property located at 15 Law Dr in Fairfield, with a total size of 78,000 square feet, was recently leased in a transaction.
Summary of transaction details
- Property Type: Industrial
- Transaction Date: 06/27/2022
- Address: 15 Law Dr, Fairfield
- Market: Fairfield
- Landlord: The STRO Companies - Millstein Family Office
- Tenant: Showman Fabricators, Inc
- Brokers: Chuck Fern, Thomas Tucci, Torsten Thaler, Natalie Gorga - Cushman & Wakefield; Elliot Ferris - The STRO Companies
In announcing this lease transaction, Elliot Ferris, Director of Leasing at The STRO Companies, mentioned that the company has expansion plans. They are interested in acquiring more industrial warehouses in Northern New Jersey and Florida, and have substantial capital available for core+, value-add, or opportunistic acquisitions.
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