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
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