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340 South Stiles Street

Seagis Property Group Leases Industrial Property In Linden, NJ
LEASEDIndustrial

Seagis Property Group Leases Industrial Property In Linden, NJ

340 South Stiles Street

$20

$20/SF

Building Size

137,447 SF

Asset Type

Industrial

Closing

Mar 1, 2023

AI

An industrial property located at 340 South Stiles Street in Linden, NJ has been leased. The property, spanning 137,447 square feet, was leased by an undisclosed tenant. The landlord in this transaction is Seagis Property Group. The asking rent for the property was $20 per square foot.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: Not disclosed
  • Address: 340 South Stiles Street, Linden, NJ
  • Market: Linden, NJ

The deal was facilitated by the brokers Natalie Gorga, Jack Winge, Stephen Shoemaker, Chuck Fern, Jason Barton, Thomas "Tom" Tucci & Torsten Thaler from Cushman & Wakefield. These brokers represented both the tenant and the landlord in this lease agreement.

Players

Thomas Tucci

Broker

$27M

vol

4 deals

Broker
Seagis Property Group
Seagis Property GroupLandlord

Market 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

793150.00%

Cash-on-Cash

-226684.70%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93