International Third-Party Logistics Provider Leases 478,000-Square-Foot Building In Burlington Industrial Park
1620 River Road
Building Size
478,000 SF
Asset Type
Industrial
Closing
Feb 14, 2024
AI
An international third-party logistics provider leased a 478,000-square-foot building located at 1620 River Road in Burlington Industrial Park, Burlington. The property is an industrial asset with a total area of 478,000 square feet.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not available
- Address: 1620 River Road
- Market: Burlington
- Square Footage: 478,000
The tenant's representatives for this deal were Drew Maffey, Michael Lee, and Rick Marchisio of Lee & Associates. They facilitated the lease agreement on behalf of the logistics provider. Nate Demetsky, from JLL, represented the landlord in the transaction.
Players
Burlington 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