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300 Murray Hill Pkwy, East ...

GenLed Brands LLC Leases 17,000 SF Industrial Space In East Rutherford
LEASEDIndustrial

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

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.

Players

Larry Schiffenhaus

CBRE

Broker

$83M

vol

13 deals

Broker
Prologis
PrologisLandlord

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