The industrial property located at 16 Bleeker Street in Millburn, NJ has been leased. Spanning across 190,000 square feet with an additional 95,000 square foot mezzanine level, the property sits on 7 acres of land. It offers 20-foot high ceilings, 250 parking spaces, and 15 loading docks. The lease is of the NNN type with an asking rent of $17 per square foot.

Summary of transaction details

• Property Type: Industrial
• Asking Rent: $17/ft
• Square Footage: 190,000 + 95,000 (mezzanine)
• Address: 16 Bleeker Street, Millburn, NJ
• Market: Millburn, NJ

Tahari Capital, led by Landlord Jeremey Tahari, purchased the property for $10 million. They have managed to stabilize it at a Net Operating Income (NOI) of $3,500,000 NNN.

Jeremey Tahari is actively seeking multifamily properties in New York City and industrial properties in northern New Jersey. For industrial properties, they have specific criteria including any deal size, 100,000 square feet of space, 5,000 office square feet, 6-10 loading docks, 40 parking spots, and a sprinkler system. In terms of multifamily properties, they are interested in deals of any size that are either value-add or cashflowing, located in Manhattan and Prime Brooklyn, and can be stabilized at a 7% Cap+.

In case you have a potential deal that matches Tahari Capital's criteria, you can send it to [email protected].