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26 Jefferson St, Passaic, N...

26 Jefferson St
LEASEDIndustrial

26 Jefferson St

26 Jefferson St, Passaic, NJ, 07055

Building Size

111,111 SF

Asset Type

Industrial

Closing

Nov 19, 2023

AI

The property involved in this transaction is located at 26 Jefferson St, Passaic, NJ, 07055. The lease encompasses a full-building industrial space measuring 111,111 square feet. The site covers 7.5 acres and includes features such as a clear height of 40 feet, 27 docks, two drive-in doors, and parking accommodations for 61 cars and eight trailers.

Summary of transaction details:

  • Property Type: Industrial Lease
  • Transaction Amount: Not Disclosed
  • Address: 26 Jefferson St, Passaic, NJ, 07055
  • Market: Passaic
  • Landlord: IDI Logistics
  • Landlord's Representatives: Chris Hile - JLL, David Knee - JLL

IDI Logistics entered into a lease agreement with an undisclosed home improvement retailer for the entire building. The negotiations for this lease were handled by David Knee and Chris Hile from JLL, representing the interests of IDI Logistics.

Players

Chris Hile

JLL

Broker

4 deals

Broker
IDI Logistics
IDI LogisticsLandlord

Passaic 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