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300 Smith Street

Major Tempered Glass LLC Leases Industrial Property In Keasbey From 300 Smith Street Associates
LEASEDIndustrial

Major Tempered Glass LLC Leases Industrial Property In Keasbey From 300 Smith Street Associates

300 Smith Street

Building Size

Asset Type

Industrial

Closing

Jun 20, 2024

AI

The industrial property at 300 Smith Street in Keasbey has been leased by Major Tempered Glass LLC for their manufacturing operations. The property spans 53,550 square feet and is strategically located near major northern New Jersey and New York City markets, ports, and transportation links.

Summary of transaction details:

The relocation of Major Tempered Glass LLC from New York to New Jersey was facilitated by the Metz Industrial Group of Bussel Realty Corp. This move was emphasized due to the property's advantageous proximity to key markets and transportation hubs in the region.

Players

Jordan Metz

Bussel Realty

Broker

$140.7M

vol

38 deals

Broker

Keasbey 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