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195 Howell Street

HERC Rentals Leases Industrial Space At 195 Howell St. In Jersey City
LEASEDIndustrial

HERC Rentals Leases Industrial Space At 195 Howell St. In Jersey City

195 Howell Street

Building Size

22,386 SF

Asset Type

Industrial

Closing

Dec 5, 2023

AI

HERC Rentals has leased 22,000 square feet of industrial space at 195 Howell St. in Jersey City. The property is part of American Equity Partners' portfolio, located in a prime industrial area. The transaction was facilitated by the brokerage firm, The Blau & Berg Co.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: Not mentioned
  • Square Footage: 22,386
  • Address: 195 Howell Street
  • Market: Jersey City

The lease deal at 195 Howell St. was brokered by Alessandro Conte, Jason Crimmins, and Peter Murano Jr. from The Blau & Berg Company. They represented both the landlord, American Equity Partners, and the tenant, HERC Rentals, in the transaction.

Players

Peter Murano

The Blau & Berg Company

Broker

9 deals

Broker

David Elkouby

American Equity Partners

Landlord

$46M

vol

5 deals

Landlord

Dover 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