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
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