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215 South Newman Street, Ha...

Diaz Foods Leases Industrial Space In Hackensack For $15/ft
LEASEDIndustrial

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

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

Elliot Ferris

The Stro Companies

Broker

4 deals

Broker

Millstein Family Office

The Stro Companies

Landlord

2 deals

Landlord

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