Goodwill Industries Leases 125500 Square Feet At 400 Huyler St South Hackensack From Forsgate Industrial Partners
400 Huyler St, South Hackensack, NJ...
Building Size
125,500 SF
Asset Type
Industrial
Closing
Dec 4, 2019
AI
The property involved in this transaction is a newly constructed warehouse located at 400 Huyler St in South Hackensack, NJ. This industrial lease spans 125,500 square feet and features 40-foot ceiling heights, along with 12,000 square feet dedicated to office space. The lease is set within the South Hackensack market, which is situated in northern New Jersey.
Summary of transaction details:
- Property Type: Industrial Lease
- Transaction Amount: Not disclosed
- Address: 400 Huyler St, South Hackensack, NJ
- Market: South Hackensack
- Landlord: Forsgate Industrial Partners
- Tenant: Goodwill Industries
- Landlord's Representative: Elizabeth Rouse (Cushman & Wakefield)
- Brokers: Chuck Fern (Cushman & Wakefield), Jason Barton (Cushman & Wakefield)
- Square Feet: 125,500
The deal involved a collaborative effort from several representatives at Cushman & Wakefield, including Chuck Fern, Jason Barton, and Elizabeth Rouse, who represented both Goodwill Industries in its site selection and the lease negotiations, as well as the landlord, Forsgate Industrial Partners. This leasing agreement signifies Goodwill Industries' commitment to expanding its operations in the region.
Players
South Hackensack 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