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1620 River Road

International Third-Party Logistics Provider Leases 478,000-Square-Foot Building In Burlington Industrial Park
LEASEDIndustrial

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

Rick Marchisio

Lee & Associates

Broker

$126.1M

vol

6 deals

Broker

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