Diaz Foods Leases Industrial Space In Hackensack For $15/ft
215 South Newman Street, Hackensack, New Jersey 07601, United States
Building Size
19,500 SF
Asset Type
Industrial
Closing
Jul 4, 2022
AI
The industrial property located at 215 S Newman St in Hackensack has been leased. The asset spans 19,500 square feet and was leased to Diaz Foods.
Summary of transaction details
- Property Type: Industrial
- Lease Date: 07/05/2022
- Address: 215 S Newman St, Hackensack
- Market: Hackensack
- Asking Rent: $15/ft.
- Landlord: The STRO Companies/ Millstein Family Office
- Tenant: Diaz Foods
- Landlord's Rep: Elliot Ferris - The STRO Companies
- Tenant's Rep: Charlotte Belling & Caroline Eisen - JLL
In addition to this lease transaction, The STRO Companies and Millstein Family Office have expressed their expansion plans. They are actively looking to purchase more industrial warehouses in Northern New Jersey and Florida. With substantial capital to deploy, they are interested in core+, value-add, or opportunistic acquisitions, as stated by Elliot Ferris, the Landlord's Rep.
Players
Hackensack 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