Quince Leases 105000 SF Industrial Space At LogistiCenter In Carneys Point With Dermody Properties
24 North Game Creek Road
Building Size
105,000 SF
Asset Type
Industrial
Closing
Jul 16, 2025
AI
The property involved in this lease transaction is an industrial asset located at 24 North Game Creek Road, within the Carneys Point market. The total leasing space amounts to 105,000 square feet. This transaction is part of Dermody Properties' two-building development known as LogistiCenter in Southern New Jersey.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not applicable for lease transactions
- Address: 24 North Game Creek Road
- Market: Carneys Point
- Landlord: Douglas Kiersey Jr. - Dermody Properties
- Tenant: Sid Gupta - Quince
- Landlord's Representative: Dean Torosian - JLL
- Tenant's Representative: Andrew Stypa - Lee & Associates
The lease was signed specifically by Quince, with Andrew Stypa representing them from Lee & Associates. Dean Torosian represented Dermody Properties in facilitating the lease agreement. This transaction highlights the collaborative efforts between these firms in securing the lease terms.
Players
Penns Grove 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