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15 Law Drive, Fairfield, Ne...

The STRO Companies Leases 78,000 SF Industrial Space In Fairfield To Showman Fabricators, Inc
LEASEDIndustrial

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

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

Thomas Tucci

Broker

$27M

vol

4 deals

Broker

Millstein Family Office

The Stro Companies

Landlord

2 deals

Landlord

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