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343 Murray Hill Pkwy, East ...

Axis Global Signs 53,361 SF Industrial Lease In East Rutherford With NAI Hanson's Reps
LEASEDIndustrial

Axis Global Signs 53,361 SF Industrial Lease In East Rutherford With NAI Hanson's Reps

343 Murray Hill Pkwy, East Rutherford...

Building Size

53,361 SF

Asset Type

Industrial

Closing

Nov 22, 2023

AI

The industrial property at 343 Murray Hill Parkway in East Rutherford, New Jersey, spans a total of 53,361 square feet. It features 21-foot ceiling heights and enjoys a strategic location with convenient access to the Garden State Parkway and New Jersey Turnpike. Situated adjacent to the Meadowlands Sports Complex, the office building offers a prime industrial space for various activities.

Summary of transation details:

  • Property Type: Industrial
  • Transaction Amount: Not provided
  • Address: 343 Murray Hill Parkway, East Rutherford
  • Market: East Rutherford
  • Tenant: Axis Global
  • Landlord: 343 Murray Hill Parkway, Inc.
  • Tenant's Rep: Steve Elman - Cushman & Wakefield
  • Landlord's Rep: Patrick Lennon, Lorenzo Lambiase, Steve Pastor - NAI James Hanson

Axis Global's industrial lease of the entirety of 343 Murray Hill Parkway was facilitated by Steve Elman of Cushman & Wakefield. On the landlord's side, Patrick Lennon, Lorenzo Lambiase, and Steve Pastor from NAI James Hanson played essential roles in representing 343 Murray Hill Parkway Inc. in the lease negotiations, ensuring a successful transaction for both parties involved.

Players

Steve Pastor

NAI Global

Broker

3 deals

Broker
MI
Murray Hill Parkway, Inc.Landlord

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