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3 Mark Road

Timeless Treasures Fabrics Leases 42,000 SF Industrial Space In Kenilworth
LEASEDIndustrial

Timeless Treasures Fabrics Leases 42,000 SF Industrial Space In Kenilworth

3 Mark Road

Building Size

42,000 SF

Asset Type

Industrial

Closing

Apr 16, 2024

AI

The industrial property located at 3 Mark Road in Kenilworth spans 42,000 square feet and was leased to Timeless Treasures Fabrics. This space includes warehouse and office areas, as well as fenced paved lots, catering to the needs of industrial users requiring efficient logistics and transportation access. The property's strategic proximity to major roadways like Route 22 adds to its appeal.

Summary of transaction details:

The leasing transaction at 3 Mark Road was facilitated by NAIDB, with Catherine Goski-Vasquez, Richard Goski, and David Simon representing the landlord through NAI DiLeo-Bram & Co. On the other side, Doug Bansbach and Linda Hill from Colliers International acted as the representatives for Timeless Treasures Fabrics. This deal brought together key players in the real estate and industrial sectors, ensuring a successful leasing agreement.

Players

Richard Goski

NAI Global

Broker

$26.6M

vol

8 deals

Broker

Kenilworth 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