Carrier Enterprise Leases Industrial Building At 30 Duke Road, Piscataway
30 Duke Road
Building Size
78,000 SF
Asset Type
Industrial
Closing
Apr 26, 2024
AI
The industrial building located at 30 Duke Road in Piscataway spans 78,000 square feet, serving as a new leasing location for Carrier Enterprise, a prominent HVAC distributor. This move aligns with Carrier Enterprise's expansion initiative and provides them with a modern warehouse space in a prime distribution market within Rutgers Industrial Center.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Landlord: Paul Tavaglione - Levin Management Corp
- Tenant: Evan Gilbert - Carrier Enterprise
- Brokers: Chuck Fern, Dan Johnsen, Jack Winge & Jason Barton - Cushman & Wakefield
The leasing deal was facilitated by brokers Chuck Fern, Dan Johnsen, Jack Winge, and Jason Barton from Cushman & Wakefield, ensuring a smooth transaction between the landlord, Paul Tavaglione of Levin Management Corp, and the tenant, Evan Gilbert of Carrier Enterprise.
Players
Piscataway 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