Bluestar Direct LLC Expands Lease At Hillsborough Business Center With Larken Associates
2 Jill Court
Building Size
13,500 SF
Asset Type
Industrial
Closing
May 9, 2024
AI
The property involved in the lease transaction is located at 2 Jill Court in Hillsborough, spanning 13,500 square feet. David Gardner from Larken Associates serves as the landlord, while Swaroop Khandagale of Bluestar Direct LLC is the tenant. The lease expansion took place at the Hillsborough Business Center, offering space for roasting, packaging, and office activities.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 2 Jill Court
- Market: Hillsborough
- Landlord: David Gardner - Larken Associates
- Tenant: Swaroop Khandagale - Bluestar Direct LLC
- Broker: Victor Kelly - Raider Realty
Victor Kelly, representing Raider Realty, played a key role in facilitating the lease agreement between Larken Associates and Bluestar Direct LLC. The transaction showcases the business adaptability and attractiveness of the property within the central New Jersey region, catering to the evolving needs of growing enterprises.
Players
Hillsborough 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