Updated Nov 28, 2024
GenLed Brands LLC Leases 17,000 SF Industrial Space In East Rutherford
300 Murray Hill Pkwy, East Rutherford...
Building Size
17,000 SF
Asset Type
Industrial
Closing
Nov 20, 2023
About this deal
AI
An industrial property located at 300 Murray Hill Pkwy in East Rutherford has been leased by GenLed Brands LLC, a manufacturer of LED lighting. The company has secured 17,000 square feet of space within the building, representing approximately one-third of the total 49,210 square feet. The location offers convenient access to major transportation routes, including the New Jersey Turnpike, Interstate 80, and routes 3, 46, and 17.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Landlord's Representative: Larry Schiffenhaus (CBRE), Stephen D’Amato (CBRE), Thomas Monahan (CBRE)
- Tenant: GenLed Brands LLC
- Landlord: ProLogis
- Square Feet: 17,000
Chilmark Real Estate Services facilitated the deal, with the tenant being represented by Chilmark Executive Managing Director Michael Marchese. On the landlord's side, a team from CBRE, comprising Vice Chairman Thomas Monahan, Senior Vice President Stephen D’Amato, and Vice President Larry Schiffenhaus, acted as the representatives for ProLogis in the transaction.
On the Map
Industrial
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Players
East Rutherford 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