Mayrock Group Leases Industrial Property At Crossroads Commerce Center In North Brunswick
1980 Brunswick Pike
Building Size
191,481 SF
Asset Type
Industrial
Closing
Apr 30, 2024
AI
The industrial property located at 1980 US Route 1 in North Brunswick spans a total of 191,481 square feet. The site, part of Crossroads Commerce Center, was leased to Mayrock Group, an automotive manufacturer and 3PL provider. It offers built-to-suit office space, a 40-foot clear height, 29 tailboard doors, two drive-in doors, and 31 trailer parking spots.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 1980 US Route 1
- Market: North Brunswick
- Landlord: Kamal Bhatia - Principal Asset Management
- Brokers: Bill Waxman, Christine Eberle, David Gheriani, Jeff Volpi, Mindy Lissner & Morgan Nitti - Cushman & Wakefield
Cushman & Wakefield's team played a crucial role in managing the transaction. The team, representing the landlord, Principal Asset Management, included Mindy Lissner, Bill Waxman, Christine Eberle, David Gheriani, Jeff Volpi, and Morgan Nitti. Lissner highlighted the strategic location of Crossroads Commerce Center, underscoring its position as a prime logistics hub in New Jersey's distribution corridor.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93