Cushman & Wakefield Represents Luxe Event Rentals In 7-Year Lease At 1735 Jersey Avenue, North Brunswick Industrial Space
1735 Jersey Avenue
$14
$14/SF
Building Size
195,782 SF
Asset Type
Industrial
Closing
Oct 23, 2023
AI
The industrial property located at 1735 Jersey Avenue in North Brunswick has been leased. The property covers an area of 195,782 square feet and was leased for a term of 7 years and 2 months. The asking rent for the property was $14 per square foot.
Summary of transaction details
- Property Type: Industrial
- Address: 1735 Jersey Avenue, North Brunswick
- Market: North Brunswick
- Landlord: Saddia Group
- Tenant: Luxe Event Rentals
- Brokers: Morgan Nitti, Chris Griffith, Mindy Lissner, Chuck Fern & Jason Barton - Cushman & Wakefield
- Lease Term: 7 years 2 months
- Asking Rent: $14 per square foot
- Size: 195,782 square feet
The leasing transaction was facilitated by the brokerage firm Cushman & Wakefield, with Morgan Nitti, Chris Griffith, Mindy Lissner, Chuck Fern, and Jason Barton representing the parties involved.
Players
North Brunswick 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
1133071.43%
Cash-on-Cash
-323835.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93