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4 Corporate Pl, Piscataway,...

Leo A. Esses Of Bussel Realty Represents Tenant In Piscataway Industrial Lease
LEASEDIndustrial

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

Leo A. Esses

Bussel Realty

Broker

$21.3M

vol

5 deals

Broker
GI
GTJ REIT, IncLandlord

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