Updated Dec 4, 2024
AEX Group Renews 5-Year Lease For 35,000 SF Industrial Property In Linden, NJ
2020 South Stiles Street
Building Size
35,000 SF
Asset Type
Industrial
Closing
Oct 19, 2023
About this deal
AI
A five-year lease renewal has been facilitated for a 35,000-square-foot industrial property located at 2020 South Stiles Street in Linden, NJ. The property is owned by Linden Warehouse & Distribution Co. and is strategically positioned near transportation hubs, making it an ideal location for last-mile logistics services in northern New Jersey.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 2020 South Stiles Street, Linden, NJ
- Market: Linden
- Square Footage: 35,000
The lease renewal was facilitated by the Metz Industrial Group (MIG) of Bussel Realty Corp., representing the landlord, Linden Warehouse & Distribution Co. The tenant, AEX Group, opted to renew the lease due to the property's advantageous location near transportation hubs, which enables them to efficiently provide last-mile logistics services in northern New Jersey.
Players
Linden 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