Leo A. Esses Of Bussel Realty Represents Tenant In Piscataway Industrial Lease
4 Corporate Pl, Piscataway, NJ, 08854
Building Size
151,641 SF
Asset Type
Industrial
Closing
Nov 20, 2023
AI
The property at 4 Corporate Place in Piscataway, New Jersey, is an industrial asset spanning 151,641 square feet. It serves as the distribution facility for Idea Nuova Inc., a home décor company. The location offers convenient access to Interstate 287 and the New Jersey Turnpike, making it an ideal spot for the company's logistics and manufacturing operations.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 4 Corporate Pl, Piscataway, NJ, 08854
- Market: Piscataway
- Tenant's Rep: Leo A. Esses (Bussel Realty)
- Landlord: GTJ REIT, Inc
- Square Feet: 151641
Leo A. Esses from Bussel Realty Corp represented Idea Nuova Inc. in the lease renewal deal. The 200-acre Corporate Park 287 development where the property is located features 25-foot ceilings heights, 200 free surface parking spaces, and covered parking. On the other side, GTJ REIT Inc., the landlord, was represented in-house for this transaction.
Players
Piscataway 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